India’s largest payment and
commerce platform, Paytm has partnered with the National Highways
Authority of India (NHAI) to enable cashless transaction on highway tolls
across the country.
The Paytm FASTag will allow commuters to pass through 350
toll plazas covering 55,000 kms, without having to stop. The
vehicle tag employs RFID technology to allow cashless toll fee
payment with the Paytm Wallet. Going forward, Paytm aims to collect over Rs 1,800 Cr in toll charges in the coming months.
Kiran Vasireddy, Sr. Vice President – Paytm said, “Cash slows down traffic at important toll
plazas as attendants and motorists are left grappling with the hassles of
dealing in loose change. The roll-out of Paytm-enabled FASTag will come as
a relief to both commuters and toll plaza attendants and help towards the
national cause of saving fuel.”
With this move, Paytm is inching closer to its vision of making
cashless transactions a way of life across India. This will propel India
towards becoming a cashless economy in the truest sense of the word.
Paytm is currently aiming to get a larger market share in O2O
categories by reaching every nook and corner of the country. Paytm customers
can now pay at petrol pumps, grocery outlets, restaurants and coffee shops,
multiplexes, local tea or vegetable vendors and even the newspaper vendor who
will prefer Paytm because of its seamless payment solutions.
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