Karur Vysya Bank has launched three new services – FASTag, Unified Payment Interface and Bharat Bill Payment System (BBPS). The bank has introduced FASTag in association with Indian Highways Management Company, under which preloaded tags affixed to the vehicles would help them to move on without having to join the queues at toll plazas and handling cash for payment of toll. FASTag can be preloaded with amounts and the toll amount will automatically be debited by the toll plazas through sensors. UPI is a mobile app that helps customers to transfer funds inter-bank, 24 X 7 through their smartphones. The transfer is effected through the IMPS platform of NPCI. BBPS is a facility offered through NPCI wherein customers can make utility bill payments like electricity, water, gas, DTH and telecom services through a single utility, instead of accessing multiple sites.
