Paytm Payments Bank issues 5 mn FASTags, aims to double in 3 months

Paytm Payments Bank Ltd (PPBL) on Thursday said it has equipped over 5 million vehicles with FASTags, and is aiming to issue a similar number of tags in the next three months.

PPBL is also enabling automatic cashless payments at 211 toll plazas across the country and has become the largest acquiring bank under National Electronic Toll Collection (NETC) programme, a statement said.

“The bank continues to be the largest issuer of FASTags in the country and has equipped over 5 million vehicles with these tags. With this, Paytm Payments Bank has emerged as the largest facilitator of digital toll payments in the country,” a statement said.

PPBL further aims to acquire another 100 toll plazas and achieve 100 per cent growth in FASTag sales in the next three months, it added.