Paytm FASTag: Necessary from 1st December, here’s all you need to know about FASTags!
Yes, FASTags will be necessary for all payments at NH toll plazas starting from 1st December, 2019. If your vehicle doesn’t have one, you will have to shell double the toll amount. But what is FASTag and how can you get it, let’s have a quick look.
What is FASTag?
FASTag is a digital toll payment pass/tag that is based on Radio Frequency Identification (RFID) technology. It enables a person to automatically pay toll charges via a pre-paid account (or wallet) that’s linked to the RFID tag. The RFID tag needs to be fixed over the windscreen of a vehicle.
As a part of the National Electronic Toll Collection (NETC) program, Paytm Payments Bank has tied up with the National Highways Authority of India (NHAI) to enable easy passage of vehicles across NHAI Toll Plazas. Paytm Payments Bank is now the top issuer of FASTags in India and has issued more FASTags than any other bank in the month of September and October this year. While more than 1 million vehicles on the road have already been on-boarded with Paytm Payments Bank FASTag, over 3 million vehicles are expected to get on the bandwagon soon. Paytm Payments Bank is also the acquiring bank for more than 110 toll plazas in India.
How can you get a Paytm FASTag?
You can purchase Paytm FASTag for your vehicle here. 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 doorsteps 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% cashback on all NHAI toll transactions throughout FY2019-20. Moreover, there’s 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. If you want to set up a camp at your office too, you can write to us at [email protected].