What will happen to Paytm Fastag?Image Credit source:
Ever since the Reserve Bank of India has issued an order to ban the service of Paytm Payments Bank from 29th February. A mountain of difficulties has fallen upon the company. She is making every possible effort to get out of this and protect the interests of her customers. Now Indian Highway Management Company Limited (IHMCL), the toll collection unit of the public sector National Highways Authority of India (NHAI), has advised highway users to avail Fastag services from 32 authorized banks apart from Paytm Payments Bank to avoid hassles.
What will happen to Paytm Fastag?
If you are using Paytm Fastag then you will not be able to use it now. If you want to get the facility to use another Fastag option instead of Paytm's Fastag service, then first of all you will have to deactivate Paytm Fastag from the Paytm app. Once you deactivate it, Paytm will give you the option to link your Fastag account with another bank. Then you can continue using Fastag by linking it with the authorized bank.
Which banks have the option of Fastag?
These 32 authorized banks include Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India and Yes Bank.
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So many people use Fastag
Paytm has a large user base in total Fastag account holders. It has about 98 percent i.e. more than eight crore users. Equipped with Radio Frequency Identification (RFID) technology, FASTag allows users to pay highway toll fees directly from linked bank accounts.
Source: www.tv9hindi.com
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