CSC inks pact with Paytm Payments Bank for sale of FASTags

New Delhi, Jan 3 () CSC e-Governance Services India on Friday said it has signed a memorandum of understanding with Paytm Payments Bank Ltd (PPBL) for sale of FASTags.

The agreement will facilitate sale of PPBL FASTags through the last mile network of 3.6 lakh CSCs, helping realise the government's vision of cashless and smooth transit at all toll plazas across country, a statement said.

"As per the MoU, CSC and Paytm Payments Bank will jointly aim to sell FASTags. For this, CSC will integrate its platform with Paytm Payments Bank to carry out seamless transactions," it added.

The Village Level Entrepreneurs will be trained on conducting paperless and cashless sales, the statement said.

FASTags -- which work on Radio Frequency Identification (RFID) technology -- have been made mandatory at toll gates on national highways. The FASTag process allows toll payments directly from the prepaid or savings account linked to it, thus doing away with the need for waiting in queues, saving time and fuel.

As of December 31, over 1.15 crore FASTags have been issued.

CSCs started selling FASTags in September 2017 when it partnered with Equitas Bank. Later on, State Bank of India and HDFC Bank came onboard.

Since March 2019, CSC has tied up with National Highways Authority of India (NHAI) also for selling FASTags. Around 2.84 lakh FASTags have been sold by CSCs across the country so far, with Maharashtra, Punjab, Tamil Nadu, Kerala, Haryana and Gujarat topping the list of states with maximum sales.

"CSCs have been providing FASTag service for the past two years. With FASTags becoming mandatory, we have received more than 8 lakh orders from VLEs. The transition towards digitization of toll tax payments through digital payment is a significant step towards modernisation," CSC SPV CEO Dinesh Tyagi said.

In addition, CSCs are also serving the vehicle owners and transporters through FASTag 'top-up' through wallet recharge. So far, more than Rs 74 crore worth top-up for FASTags has been done by VLEs across the country. SR BAL
{{}}

(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)

Add Comment()
Comments ()
X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.