Business

Paytm to launch FASTag based parking service along with DMRC

Paytm to launch FASTag based parking service along with DMRC

Paytm has launched FASTag based parking facility at Kashmere Gate metro station. With this, there will be no need to stop for cash payment at the counter.

Paytm Payments Bank Limited

Digital payments and financial services firm Paytm will launch FASTag based parking services across the country. Paytm Payments Bank Ltd (PPBL) on Monday said that it has launched the country’s first FASTag based metro parking facility in partnership with Delhi Metro Rail Corporation (DMRC).

Paytm has launched FASTag based parking facility at Kashmere Gate metro station. PPBL will facilitate the processing of all FASTag-based transactions for cars with valid FASTag stickers. With this, there will be no need to stop for cash payment at the counter.

In addition, Paytm Payments Bank has rolled out a UPI based payment solution for two wheelers entering the parking site.

Paytm Payments Bank becomes the first bank to issue 1 crore FASTag

Paytm Payments Bank became the first bank in the country to achieve the figure of issuing 1 crore FASTag in June. According to NPCI, a total of more than 3.47 crore FASTags were issued by all banks till the end of June 2021.

DMRC Managing Director Mangu Singh said in a statement issued by PPBL, DMRC is a major step towards digitization of providing solutions to our customers. Especially at a time when contactless transaction methods are the need of the hour.

The bank is also in discussions with various stakeholders to implement digital payment solutions for parking areas at shopping malls, hospitals and airports.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.

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