Paytm has decided to come in partnership with cab aggregators Ola and Uber to dispense FASTags to drivers. Paytm Payments Bank has entered a strategic partnership with the two companies.
Thorugh the partnership 100,000 drivers would have convenience in purchase and recharge of FASTags across the country. To facilitate the purchase and use of Paytm FASTags, the payments firm has set up over 12 camps at Uber Green zones across all major cities. A similar program is being worked upon with Ola at Bangaluru airport and other local locations across the city of Bengaluru
The new campaign, targeting gig economy drivers, comes just days after Paytm renewed its exclusive payment partnership with Uber. Paytm has been heavily focusing on selling FASTags after the Centre, in January, made it mandatory for commercial and private vehicles in the country. Unlike FASTags issued by other banks, Paytm FASTag doesn’t require a separate prepaid account. The money for toll payments gets auto-debited from Paytm wallet.
FASTag is an electronic toll collection system, operated by the National Highway Authority of India. It employs Radio Frequency Identification technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.
Inputs from Livemint