To bring in the best practices implemented at national highways, ICICI bank will continue to work closely with MEP Infrastructure, operator of the toll plazas.
Mumbai is now FASTag ready with three major toll plazas coming under the electronic toll collection system, said the National Payments Corporation of India. These three major toll plazas in the financial capital- Airoli, Mulund Eastern Express Way as well as Mulund (LBS Marg), went live recently on NETC FASTag platform. The platform has been enabled by Rajiv Gandhi Sea link plaza and Vashi Toll plaza, providing seamless, on-the-go toll payments experience. At present, the implementation work is underway at Dahisar toll plaza and it is expected to go live soon. According to a PTI report, ICICI Bank is the first such bank in the country to integrate with the FASTag technology at toll plazas in Airoli, Vashi, Dahisar, Mulund Eastern Expressway, Mulund.
To bring in the best practices implemented at national highways, ICICI bank will continue to work closely with MEP Infrastructure, operator of the toll plazas, according to NPCI. Also, the corporation is expecting all parking lots in the financial capital to gradually adopt 100% smart and contactless parking. Last month i.e., November 2020, NETC FASTag’s transaction count stood at an amount of 12.48 crore with transaction value Rs 2,102.02 crore, compared to 12.23 crore transactions worth an amount of Rs 2,137.16 crore in the month of October 2020.
According to Business Head of ICICI Bank, Sudipta Roy, the implementation of FASTag at these toll plazas is benefitting millions of commuters to zip through the toll plazas without stopping to make payment for the toll. Also, ICICI Bank is collaborating with various partners in order to implement FASTag at airports and malls. As part of this, the bank is working with NPCI to deploy FASTag-based smart parking solution at airports and malls across major Indian cities. This facility has already been implemented at the GMR Hyderabad International Airport, Roy said.
A simple to use, reloadable tag, the NETC FASTag is fixed on the vehicle’s windscreen which allows automatic toll charge deduction from the linked prepaid or savings bank account while the vehicle is moving. For all the transactions done in the tag account, an SMS alert is received by the user on his/her registered mobile number. With NETC FASTag, the vehicle does not need to stop or halt at toll plazas for toll payment, thereby saving fuel as well as travel time. These FASTags can also be purchased at select bank branches, toll plazas as well as online through e-commerce platforms. These tags can be recharged online through all payment channels including BHIM UPI, debit cards, credit cards or BBPS.