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Paytm Payments Bank launches FASTag-based metro parking facility  

 

Kashmere Gate metro station in Delhi becomes the first to have a fully digitized parking lot

Paytm Payments Bank Ltd. (PPBL) has announced that it has enabled a FASTag-based metro parking facility at Kashmere Gate metro station in Delhi, in partnership with Delhi Metro Rail Corporation (DMRC). The parking facility will be the country’s first to accept payment via the UPI.

Satish Gupta, MD & CEO, Paytm Payments Bank

As an acquiring bank for the parking facility at the Kashmere Gate metro station, PPBL will facilitate processing of all FASTag-based transactions for cars having a valid FASTag sticker, thus eliminating the hassle of stopping and paying cash at the counter. Additionally, PPBL has enabled a UPI-based payment solution for 2-wheelers entering the parking site, thus digitizing the entire parking payments at the site.

Satish Gupta, MD & CEO, Paytm Payments Bank, said, “It has been our endeavour to expand the FASTag network in the country and empower users with seamless and hassle-free travel. We will continue to work with other parking providers across the country to adopt a safe and contactless payment solution by implementing the FASTag system.”

The bank is closely working with various municipal corporations across several states to initiate FASTag-based parking facilities both at organized and unorganized sites. The bank is also in discussion with various stakeholders to implement digital payment solutions for parking areas at shopping malls, hospitals, and airports.

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