As more and more restrictions are being lifted, economic activities are making a comeback. In response to this, the National Payments Corporation of India (NPCI) on Tuesday informed said that the transaction count of NETC FASTag under the National Electronic Toll Collection (NETC) programme witnessed a sharp jump of 54% in July 2020 as compared to previous two months.
The transaction count has crossed 86 million with a transaction value of INR 1623.30 crore, compared to a transaction count of 81.92 million and a transaction value of INR 1511.93 crore in June 2020.
“We are glad to witness NETC FASTag scaling new heights within 4 years of its inception. The interoperability of NETC FASTag has helped millions of vehicle owners get the seamless toll plaza experience. We at NPCI strive to make essential travel safer for customers and provide them with make contactless, hassle-free and convenient toll payments. We are confident that NETC FASTag will see an increased adoption in the future as it is also venturing into the state highways, city toll plazas and parking lots, enabling digital Contactless Toll Payment facility to local city residents as well.”
~ Praveena Rai, Chief Operating Officer, NPCI
Keeping in place the social distancing norms, the NPCI recently announced the expansion of its 100% Contactless and Interoperable Parking Solution with NETC FASTag in major cities like Delhi, Mumbai, Chennai and Bengaluru.
NETC FASTag which was made mandatory across all National Highway Toll Plazas from 15th December 2019 is a reloadable tag fixed on the windscreen of a vehicle which enables automatic deduction of toll charges from the linked prepaid or savings account while the vehicle is in motion.
The NPCI with the NETC FASTag took a step towards the Government’s vision of making India a digital economy. Focused on bringing innovations in the retail payment systems through the use of technology. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
