* ICICI Bank engages with Bangalore’s Brookfield Mall to make parking contactless and seamless with NETC FASTag
* Brookfield mall now NETC FASTag ready to delight customers with lesser wait time at entry and exit with a complete contactless solution.
National Payments Corporation of India (NPCI) in association with ICICI Bank and ValetEZ enables Brookfield Mall as India’s first Contactless Mall in Bangalore making parking seamless and ready.
Brookfield Mall is one of the earliest malls in Bangalore, located in the Brookfield neighbourhood in the city. Popular among the Brookfield community and beyond, the mall has a fine mix of essential and lifestyle retail stores, variety of F&B options, and entertainment options such as the Inox multiplex. The mall has always sought to reinvent itself from time to time to cater to its visitors, and adopting new technology and practices have been part of this endeavour.
ICICI Bank is the acquiring bank for this project as per the partnership with NPCI. With this, the Bank will debit parking charges from the FASTag account of the commuters and then credit them to the partner’s bank account. The Bank was the first to launch the innovative service of FASTag nationally, on the Mumbai – Vadodara corridor, way back in 2013.
After the successful implementation of NETC program for toll payments, NPCI is now geared-up to expand the contactless car parking solution across the country. It has also initiated discussions with major malls, airports and other private parking lots in, Mumbai, Bangalore, Chennai and Delhi for the NETC FASTag powered contactless car parking solutions. The company has been receiving interests from major banks in spearheading the parking projects.
Mr. Neeraj Duggal, Brookfield Mall, said “At Brookfield Mall, we have always taken pride in bringing new innovations in our operations and visitor experience. Working with ValetEZ to have NETC FASTag enabled Contactless Parking is in keeping with this ethos and ensures a safe and better parking experience for our Brookfield community.”
Mr Denny Thomas, Head NETC & AEPS, NPCI said, “We are pleased to partner with ICICI Bank to introduce contactless car parking solution at the Brookfield Mall with NETC FASTag. We believe this solution will offer an added layer of convenience and safety for the customers in terms of their car parking payments which would allow them to save time to park and spend more time with their loved ones at the mall. With NETC FASTag, it’s our constant endeavour to provide seamless, cashless and automated toll and parking payment solutions.”
Mr. Sudipta Roy, Head - Unsecured Assets, ICICI Bank, said, “ICICI Bank has been at the forefront of leveraging technology to introduce hassle-free digital financial solutions to customers. We are delighted to partner with NPCI to enable commuters to pay parking charges using FASTag at Brookfield Mall in a hassle-free and contactless manner. FASTag has revolutionised the toll-collection industry by making it digital, quick and seamless. We believe that using this technology to collect parking charges will also increase the penetration of electronic payments thereby reducing cash transactions.”
Akhilesh Srivastava, COO IHMCL, said, “The FASTag has provided seamless experience to the highway users at the toll plazas across the country. With seamless parking service of FASTag being extended to users it will make their daily commute comfortable. NETC FASTag for parking will be a game changer and will make lives easier for everyone in the country. My best wishes to the ambitious program.”
The contactless car parking facility allows passengers and visitors the comfort of paying for parking without the need to roll down their windows. While parking lots across the country are being enabled with digital payment solutions only NETC FASTag can provide a 100% contactless solution. This leads to an opportunity to all parking providers across the country to adopt a safe and contactless payment solution by implementing the NETC FASTag solution. The application installed at the parking plaza can seamlessly integrate with NETC FASTag API model provided by Acquiring Banks and avail the benefit of an interoperable ecosystem.
How the solution works:
Customers can buy NETC FASTag from any of the 29 issuer banks. The tag employs Radio-frequency Identification (RFID) technology and needs to be affixed on the vehicle's windscreen. NETC FASTag can be linked to a prepaid account or a CASA account. The subscriber can use the parking without any manual intervention, such as waiting for a parking receipt at the entry or making cash/credit card payment at the exit. There is no additional cost to customers with respect to the parking fee. One has to just purchase a onetime tag which does away with the wait time at entry and exit.
Dedicated NETC FASTag lanes are in place. When a user arrives through this lane, the strategically placed RFID reader will capture the tag with the timestamp and store the details in the local data base. While exiting, the same will be reconciled and the chargeable parking fee is automatically deducted allowing the passengers to virtually zip through the parking lot in no time. Post completion of every transaction, user will receive SMS on the deducted amount.
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC Fastag) and Bharat BillPay. NPCI also launched UPI 2.0 to offer a more secure and comprehensive services to consumers and merchants.
NPCI is focused on bringing innovations in the retail payment systems through use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.