Paytm to launch FASTag-based parking service across country; starts with DMRC

• BySheetal Sidhu     |    September 14, 2021

Paytm to launch FASTag-based parking service across country; starts with DMRC. As an acquiring bank for the parking facility at the Kashmere Gate metro station, PPBL will facilitate the processing of all FASTag-based transactions for cars having a valid FASTag sticker which eliminates the need for stopping to pay cash at the counter. Additionally, Paytm Payments Bank has enabled a UPI-based payment solution for two-wheelers entering the parking site. “PPBL will digitise parking facilities across the country with Kashmere Gate metro station being the first one to be powered by the bank’s digital payment solution. The bank is closely working with various municipal corporations across several states to initiate FASTag-based parking facilities both at organised and unorganised sites,” the statement said.

The bank is also in discussion with various stakeholders to implement digital payment solutions for parking areas at shopping malls, hospitals and airports, it added. “It has been our endeavour to expand the FASTag network in our country. In this quest, we are excited to partner with the Delhi Metro Rail Corporation for enabling digital payment solutions at their parking facility. We will continue to work with other parking providers across the country to adopt a safe and contactless payment solution by implementing the FASTag system,” PPBL managing director and CEO Satish Gupta said. 

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