Your vehicle will soon be able to zoom past toll plazas without having to stop to make toll payments. From December 15, making toll payments via FASTag will become mandatory at national as well as state highways. If you do not do it with FASTag, you will have to shell out double the amount payable via FASTag. While many acquirers and banks are offering it, you can get it done through Paytm as well. The payment firm is offering customers online on-boarding service as well as doorstep delivery.
Paytm Payments Bank has claimed that it is the top issuer of FASTags in India. It also claims to have issued more FASTags than any other bank in September and October this year. As per the Press release issued by the Paytm Payments Bank, more than 1 million vehicles on the road have already been on-boarded with Paytm Payments Bank FASTag, while over 3 million vehicles are expected to get on the bandwagon soon. The payments bank is also the acquiring bank for more than 110 toll plazas in India.
FASTag is a sticker that has to be put at the front windshield of your vehicle. This sticker becomes the radio frequency identity of your car which is automatically read by the sensors placed at the toll plazas. This sticker is linked either to a prepaid account like Paytm or through a bank account. The amount is deducted automatically whenever your vehicle crosses any toll plaza which is RFID-enabled. If it is linked to a prepaid account, you have to recharge and keep adequate balance and if it is linked to your bank account, you will have to keep your bank account adequately funded.
How can you get a Paytm FASTag?
You can purchase Paytm FASTag for your vehicle from https://paytm.com/fastag. For private vehicles, Paytm Payments Bank has waived off the tag issuance cost of Rs 100. You only need to pay Rs 400, out of which Rs 250 is for security deposit and Rs 150 is the minimum balance that needs to be maintained. Both of these amounts stay with you as a user. Your FASTag purchase can also be done on the Paytm app.
The FASTag will be delivered at your doorstep free of cost following your purchase. It will be activated post validation of RC scans submitted by you. Paytm FASTag can be recharged with your Paytm Wallet using UPI or your bank account. With your FASTag purchase, you will be entitled to receive a 2.5 per cent cashback on all NHAI toll transactions throughout 2019-20. Moreover, there is a chance for you to win a free movie ticket as well. Paytm Payments Bank is also setting up helpdesks across corporate offices in India to help their employees get FASTags without any hassle.