- DMRC & PPBL joins Hand for FasTag Payments facility.
- Kashmere Station is the first metro station with this facility.
- Statement of CEO of Paytm.
Delhi Metro Rail Corporation(DMRC) and Paytm Payments Bank Ltd(PPBL) have come together to provide India’s first FastTag-based metro parking system.
The Company in a statement said, “As an acquiring bank for the Kashmere Gate metro station parking facility, PPBL will simplify the processing of all FasTag based transactions for vehicles with a valid FasTag sticker, avoiding the hassle of stopping and paying cash at the counter.”
An option of UPI payments for two-wheelers has also been provided by the company. They can pay the parking fees simply by using UPI payment from now.
This new and digitalize facility is open at Gate no. 6 of the metro station. For now, the parking facility can accommodate around 174 two-wheelers and 55 four-wheelers.
According to the MD of Delhi Metro Rail Corporation (DMRC), Mangu Singh, said, “This is another step towards digitization in the DMRC’s endeavor to provide solutions to our customers, especially in these times when contactless transactional techniques are the need of the hour.”
Paytm is interested in expanding the FastTag/UPI-based service at various metro stations.
According to Satish Gupta, MD & CEO of Paytm Payments Bank Ltd, “Our goal has been to develop the FASTag network throughout our country and provide our users with seamless and hassle-free travel. In this quest, we are delighted to collaborate with the Delhi Metro Rail Corporation to provide digital payment solutions at their parking facility. We will continue to work closely with other parking providers around the country to adopt the FASTag system, which will give a secure and contactless payment option.”