FASTag is a tag that must be fitted on the windshield of a four-wheeled vehicle so as to promote cashless payments at toll plazas across the country with the use of the RFID (Radio Frequency ) technology. The FASTag facility is a cashless model wherein the entire toll tax amount is collected through the FASTag without having to stop the vehicle. The FASTag is linked to the user’s prepaid account, such as a Paytm wallet, and is then fixed to the windscreen of his/her vehicle. As the user passes through the toll gate, the toll amount is automatically debited from the user’s prepaid account or a Paytm wallet linked to the FASTag. The user will be informed of the charges and provides an automated grievance redressal mechanism on the Paytm app itself.
FASTag allows the seamless automatic payment of tolls without any manual intervention. Using FASTag offers multiple benefits, such as it saves a lot of time and effort for the user by eliminating long queues at toll plazas. Additionally, travelers can use a single wallet for tolls, fuel expenses, vehicle parking expenses, or shopping, etc. while also making the benefit of various offers and discounts by recharging their FASTag on mobile applications like Paytm. On top of this, the use of FASTag is also beneficial for the environment as it reduces the use of paper and fuel.
Since February 16, 2021, the Government of India has made it mandatory for all four-wheeled vehicles to install the FASTag. Otherwise, the car owners will have to pay double the toll tax amount at every toll plaza that they cross through the Indian national highways.
How can you Link FASTag with your Bank Account?
Every FASTag is linked to a prepaid account, such as a Paytm wallet. Right when you buy a FASTag, it needs to be linked to a prepaid account, which is linked to a bank account in order to perform transactions.
Hence, because your FASTag-associated prepaid account is already linked to a bank account, you don’t specifically need to link your FASTag with a bank account. All you need is to ensure that you are KYC-verified for your prepaid wallet account and that is it!
How to Use Paytm for FASTag Transactions?
Once your FASTag registration is complete, your FASTag account will be created. You can link your FASTag to your Paytm wallet and you will be good to go. To link your FASTag to your Paytm wallet, you will only have to provide your vehicle’s RC.
If you buy the Paytm FASTag, you can simply use the same FASTag for multiple vehicles, if you own any. Using the Paytm wallet for your FASTag-related transactions will make it easier for you as you won’t have to recharge your FASTag again and again. All you need is a balance in your Paytm wallet and the toll tax amount would directly be deducted from your wallet as and when you cross a toll plaza. Having a single Paytm wallet for multiple needs will help you manage your balances and keep a detailed track of all your travel-related expenses, whether fuel, purchases at departmental stores, or expenses made at toll plazas.
What are the Benefits of Using FASTag?
There are multiple reasons which explain why you should buy the FASTag for your four-wheeled vehicle. Some of them have been explained below-
- Using the FASTag technology, you will not have to lower the speed of your vehicle at the toll plazas. Since you can keep moving at the toll gates, without having to stop, your fuel and your time will be saved
- Since the traffic does not have to stop or slow down, there is almost no congestion or traffic jam at the toll plazas
- Traveling from one city/state to another by road comes across a lot of toll plazas. With the use of FASTag, you can enjoy the benefit of electronic payment, and a completely hassle-free driving experience throughout your journey; leaving the FASTag to take care of all your toll payments
- FASTag also makes it easier for you to keep a track of all your toll expenses. If you use Paytm to make your FASTag payments, you will receive regular in-app notifications and SMSs every time you make a payment through FASTag. Moreover, you can also track your expenses in your Paytm passbook
- The FASTag facility benefits the environment in the long run, as it reduces the use of paper and fuel
- Regular travelers can apply to convert their monthly, regular passes into FASTag passes. There is an online application procedure for corporates and fleet owners to do the same
- While various other digital wallets let you recharge your FASTag on your mobile phone in a matter of minutes; Paytm does not require you to do that either. All you need is some balance in your Paytm wallet and the toll tax amount will automatically be deducted from your wallet as and when you cross a toll plaza
- Upon linking your FASTag account with the Paytm mobile application, you will be automatically notified of all the transactions and toll deductions. This will help you keep a track of the money that you have spent at toll plazas during your travel
- A FASTag has a validity of 5 years
- Registering for a FASTag involves a simple, and quick process