- Paytm users can purchase a new FASTag directly from the app, issued by HDFC Bank.
The ban on Paytm Payments Bank Ltd (PPBL) by the Reserve Bank of India (RBI) has directly impacted the FASTag users who have purchased FASTag from Paytm. However, the online payment aggregator has claimed that FASTag users can continue recharging their FASTag accounts directly from the app, irrespective of the issuer bank. Also, vehicle users can purchase a new FASTag directly from the app.
In a statement, the company stated that the FASTag users can recharge their existing Paytm FASTag by going to the ‘FASTag Recharge’ option under the ‘Bill Payments’ section. The users can select their FASTag issuing bank and NBFCs from a list, which includes IDFC First Bank, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, State Bank of India, AU Bank, Airtel Payments Bank, Axis Bank, Bandhan Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Equitas Small Finance Bank, Federal Bank, IDBI Bank, IOB Fastag, Indian Bank, Indian Highways Management Company, IndusInd Bank, Karnataka Bank, UCO Bank, The South Indian Bank Ltd, Union Bank of India and others.
(To buy a new FASTag, click here.)
The user has to enter his or her FASTag-linked vehicle number, subsequently enter the recharge amount and pay to recharge the account. Also, the statement revealed that Paytm users now have the option to purchase new FASTags from HDFC Bank directly from the Paytm app.
The users have to search for the ‘Buy HDFC FASTag’ button and tap on it. Then they can purchase the FASTag by entering customer and vehicle details and making payments. The HDFC FASTag sticker will be delivered to the user’s home address, revealed the statement.
Meanwhile, the Indian government is mulling the plan of launching a GPS-based toll collection system across the country, which would see a massive shift from the current FASTag-based toll collection system that is incorporated across India. However, the government has not revealed any concrete timeframe for the launch of the new system.
First Published Date: 26 Mar 2024, 13:29 PM IST