Paytm Payments Bank launches FASTag based payment facility for Delhi Metro parking

FASTag Delhi metro parking:

The Paytm Payments Bank Ltd. (PPBL) has announced recently that it has enabled India’s first-ever FASTag-based metro parking service in collaboration with the Delhi Metro Rail Corporation (DMRC). 

In addition to this, the Paytm Payments Bank has also licensed a UPI-based payment solution for 2-wheeler vehicles entering the parking premises, thereby making the who parking payment system at the site digital. Now, the people owning two-wheelers will also be able to pay the parking fees at Metro station through the digital mode of UPI.

In a statement, the company said “as an acquiring bank or the paring facility at the Kashmere Gate metro station, PPBL will facilitate the 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. 

At present, this facility is available at Kashmere Gate metro station’s gate number 6 and the space offers a capacity for 174 two-wheelers and 55 four-wheeler vehicles. 

While the PPBL further plans to expand this facility of FASTag based metro parking facility further, with Kashmere Gate metro station being the first one. The PPBL is working with various municipal corporations across different states to commence the FASTag based parking facilities both at organized and unorganized sites. The bank is also in talks with various stakeholders to enable digital payment solutions for parking areas at airports, hospitals, and shopping malls.

“This is another step towards digitalization in the DMRC’s endeavor to provide solutions to our customers especially in these times when contactless transactional methods are the need of the hour”, said Mangu Singh, MD, DMRC.

While Satish Gupta, the MD &CEO of Paytm Payments Bank Ltd quoted “It has been our endeavor to expand the FASTag network in our country and empower our users with seamless and hassle-free travel. In the quest, we are excited to partner with the Delhi Metro Rail Corporation for enabling digital payment solutions at their parking facility. 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.”