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Digitisation has entered every sphere of our lives with the emergence and widespread acceptance of the Unified Payments Interface (UPI). A Government of India initiative, UPI also enables customers to pay at toll plazas across India without stopping their car. Let us understand FASTags in this article – how they work, who issues them, and their benefits.
The National Payments Corporation of India (NPCI) has developed the NETC (National Electronic Toll Collection) system to enable vehicle owners to make electronic payments at toll plazas across India. FASTag allows an end-customer to pay the toll without stopping their vehicle at the toll plaza.
FASTags, attached to the windscreens of vehicles, use Radio Frequency Identification Technology (RFID) to enable the electronic payment of tolls while the vehicle is in motion.
Here is how a FASTag helps you pay your toll at a toll plaza:
There are several ways to purchase a FASTag. You can choose the following ways to purchase a FASTag for your vehicle.
The NHAI also sells bank neutral FASTags issued by the IHMCL online. These FASTags are not linked to any bank, and the user can choose their preferred mode of payment to be linked to the FASTag account.
FASTag was made mandatory for every vehicle in India from 1 December 2019.
Here are the steps to be followed to buy an instant FASTag online:
Customers must submit the following documents along with the application form to apply for a FASTag:
Purchasing a FASTag with IDFC FIRST Bank can help you enjoy many benefits. Here are the benefits of FASTag for single vehicle owners. These apply to vehicles of all categories, makes, and types.
Corporate vehicles owners can also benefit from an auto top-up facility from the corporate pool account.
Any FASTag can be easily recharged using a UPI-enabled app. You need to enter your FASTag's UPI ID and make the payment via a UPI-enabled app. Once done, you shall receive a notification regarding the amount debited from your bank account, along with another notification informing you about the amount credited to your FASTag account.
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.