India’s homegrown Paytm Payments Bank Ltd (PPBL) has partnered with Delhi Metro Rail Corporation (DMRC) ato launch the nation’s first FASTag-based metro parking facility for two-wheelers coming into the parking web site, thus digitizing your complete parking funds system. As an buying financial institution for the parking facility on the Kashmere Gate metro station, PPBL will facilitate the processing of all FASTag based mostly transactions for automobiles having a sound FASTag sticker, thus eliminating the trouble of stopping and paying money on the counter.
With the implementation of the PPBL powered FASTag system, automobile homeowners are now not required to tender money and parking charge is deducted straight from the pockets or account linked with the FASTag of the respective autos. Two-wheeler homeowners may pay their parking charges digitally on the metro station through a easy UPI cost. Currently, the ability is out there on the metro station’s gate quantity 6 and it gives parking area for 174 two-wheelers & 55 four-wheelers.
Mangu Singh, MD, DMRC, stated, “This is another step towards digitalization in the DMRC’s endeavour to provide solutions to our customers especially in these times when contactless transactional methods are the need of the hour.” PPBL will digitize parking amenities throughout the nation with Kashmere Gate metro station being the primary one to be powered by the financial institution’s digital cost resolution. The financial institution is intently working with varied municipal firms throughout a number of states to provoke FASTag-based parking amenities each at organized and unorganized websites. The financial institution can be in dialogue with varied stakeholders to implement digital cost options for parking areas at buying malls, hospitals, and airports.
Satish Gupta, MD & CEO – Paytm Payments Bank Ltd stated, “It has been our endeavour to expand the FASTag network in our country and empower our users with seamless & hassle-free travel. 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.”
Paytm Payments Bank is already India’s largest issuer of FASTags and acquirer of Toll Plazas for the National Electronic Toll Collection (NETC) program. PPBL FASTag has turn out to be the nation’s most most popular toll cost technique because it permits customers to straight pay from the Paytm Wallet. Users don’t have to create any separate account for utilizing and recharging their FASTags. The issuance course of is fast, simple & handy, and does not require a number of paperwork or separate login credentials. Unlike tags from different banks which can require a few hours to get activated, PPBL FASTags are activated immediately from the second customers obtain them. All FASTag transactions could be monitored on the Paytm app itself.