Paytm Payments Bank leads the market with 6 million Fastags as sales increase with deadline extension

 

• Most preferred by users as it allows toll payment directly from Paytm Wallet, no need to create a separate FASTag account
• Country's top issuer for FASTags on vehicles
• Enables cashless payments at more than 250 toll plazas
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Mumbai, 11^th January 2021: India's homegrown Paytm Payments Bank Ltd (PPBL) today announced that it is the leading issuer of FASTag in the country with over 6 million FASTags, as more citizens avail the service with the government extending the deadline for its adoption. Paytm FASTag has gained popularity amongst users in the country due to its seamless onboarding and integration process which requires minimum documentation, instant activation and unmatched customer care support. PPBL has now enabled cashless toll payments across 250 plazas in the country.

Paytm FASTag has become the country's most preferred toll payment method as it allows users to directly pay from the Paytm Wallet. Users do not need to create any separate account or download a wallet to recharge their FASTags. Tags issued by other banks require buyers to provide multiple documents like ID proof, photographs, share personal details & maintain separate accounts and login credentials. Also, unlike tags from other banks which may require a couple of hours to get activated, Paytm FASTags are activated instantly from the moment users receive it. All FASTag transactions can be monitored on the Paytm app. Users can raise complaints on the app itself which are addressed by a dedicated customer support team working 24x7.

Satish Gupta, MD & CEO - Paytm Payments Bank Ltd. said "It has been our humble endeavour to empower Indians with the same convenience and seamlessness on-road that our app provides to our users in their daily lives. The innovations that we have made in technology and the deep trust in our bank has helped us become the leading issuer of FASTags in the country. Users have embraced the convenience of paying for tolls directly from their Paytm Wallet and not create separate accounts. We continuously strive to ensure that customers are always charged the correct toll and have a hasslefree time on the road. We aim to expand our services across the length and breadth of the country and contribute towards building fully digital journeys on highways."

Paytm Payments Bank is the top issuer and the largest acquiring bank under the National Electronic Toll Collection (NETC) programme. It has also meticulously analyzed claims of higher toll charges raised by toll plazas against users. Paytm Payments Bank has fought on the behalf of users against higher charges owing to misidentification of vehicles and double taxation. It has also successfully reversed the vast majority of wrong toll charges. Ensuring that users are not inconvenienced, Paytm Payments Bank has the distinction of being the FASTag issuer which raised 60% of all disputes and 95% of all arbitration cases in the National Electronic Toll Collection Program.