Toll Payments Go Digital WithFasTag on Rajiv Gandhi Sea Link; IDFC Bank Appointed as Acquirer

(Eds: Disclaimer: The following press release comes to you under an arrangement with Business Wire India. PTI takes no editorial responsibility for the same.) Mumbai, Maharashtra, India Business Wire India Sea link is the first toll plaza in Maharashtra under MSRDC governance to digitize payments using RFID (radio frequency identification) FasTags IDFC bank has been appointed as an acquirer for electronic toll collection transactions at the Rajiv Gandhi Sea Link bridgeStarting today, commuters can zip through the Rajiv Gandhi Sea Link in Mumbai, popularly referred to as the Bandra Worli Sea Link, by paying digitally, using RFID compliant FasTags. The Sea Link is the first toll plaza in Maharashtra, under the governance of Maharashtra State Road Development Corporation Ltd. (MSRDC) to launch FasTag services for electronic toll collection, thus ensuring seamless payments on-the-move. FasTag will enable commuters to use the Sea Link without having to stop and pay the toll in cash, thus making the payment experience fast, convenient and efficient.The RFID technology for FasTag on the Rajiv Gandhi sea link has been powered by IDFC Bank, which has been appointed as an acquirer for the electronic toll collection by MEP Infrastructure Developers Ltd., the organisation managing the toll plaza. To avail of the facility, motorists need to paste the RFID compliant FasTag on the windshield of the vehicle. The information on the tag is passively read by the RFID antennae installed at the toll plaza and subsequently the toll is debited for that journey, as per charges for the type of vehicle. The acceptance of FasTags is set to resolve issues relating to delays and increase in fuel consumption at the sea link as motorists wait their turn to pay. Over 32,000 vehicles cross the 4.7 kilometer Rajiv Gandhi sea link daily. The Fastag program was jointly launched by National Highway Authority of India (NHAI), Indian Highways Management Company Ltd. (IHMCL) and National Payments Corporation of India (NPCI) as a medium to accept toll fare across all National Highway plazas. Today, over 36 lakh FasTags are accepted at over 430 National Highway toll plazas. About IDFC Bank Headquartered in Mumbai, IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile. IDFC Bank is one of the leading banks in India that seeks to set a new standard in customer experience. IDFC Bank offers basic services in India like Savings Accounts, NRI Accounts, Fixed Deposits, Home Loans, Personal Loans among others, using technology and a service-oriented approach, to make banking simple and accessible, anytime and from anywhere. About FasTag FASTag is a simple to use, reloadable tag which enables automatic deduction of toll charges and lets you pass through the toll plaza without stopping for the cash transaction. FASTag is linked to a prepaid account from which the applicable toll amount is deducted. The tag employs Radio-frequency Identification (RFID) technology and is affixed on the vehicle's windscreen after the tag account is active. FASTag is a perfect solution for a hassle free trip on national highways. FASTag is presently operational at 407 toll plazas across national and state highways. More toll plazas will be brought under the FASTag program in the future. PWRPWR