Digital payment giant Paytm, a subsidiary of One97 Communications, has introduced FASTag payments for people utilizing parking services at the Chennai International Airport. In collaboration with Olympia Group, Paytm Payments Bank Ltd has forged a partnership to extend FASTag payment services to customers accessing the parking facilities at the airport, as detailed in a press release on Tuesday.
Seamless Parking Experience with RFID Technology
Upon entry or exit, a cutting-edge sensor reads the radio-frequency identification (RFID) sticker affixed to the vehicle. Subsequently, applicable charges are automatically deducted from the user’s Paytm Payments Bank Wallet or the linked bank account with a FASTag enabled at the parking lots, according to the official statement.
Paytm’s Expanding FASTag Network
Highlighting their commitment to streamlined services, Paytm Payments Bank has issued over 1.8 crore FASTags to date. Similar services have been successfully implemented at airports in Dehradun, Pune, and Indore.
Digital India Initiative Accelerated
Olympia Group CEO Balaji A J expressed enthusiasm about the efficient vehicular management provided by the FASTag system at airports. He noted that this initiative represents a substantial stride toward advancing the Digital India initiative.
(With PTI Inputs)