Private lender ICICI Bank has collaborated with Google Pay for issuance of FASTag through UPI on the payments app. This partnership enables Google Pay users to order, track as well as recharge ICICI Bank FASTag easily that too fully digitally through UPI on the payments app itself.
According to the official communiqué, this initiative will help in ensuring safety of the applicants, doing away the need to visit merchants or toll locations for buying a FASTag. With this development, ICICI Bank is now the first bank to collaborate with Google Pay for issuance of FASTag.
FASTag is owned by Indian Highways Management Company Ltd. (IHMCL) that carries out electronic tolling and other ancillary projects of National Highway Authorities of India (NHAI). National Payments Corporation of India (NPCI), IHMCL and NHAI are working together to make state and national highway toll payments completely digital.
Sudipta Roy, Head- Unsecured Assets, ICICI Bank said, “With the increased adoption of digital payments in all walks of life, we believe that this collaboration will help Google Pay users to apply for a new FASTag through UPI and get it delivered free of cost at their door step. The association comes handy for Google Pay customers, even if they are not customers of ICICI Bank, during the pandemic as it allows them to order and receive FASTag in a seamless and contact-less manner. With this, ICICI Bank has achieved another feat in the FASTag ecosystem by introducing inter-operability between banks on a digital payments platform like Google Pay. We believe that this initiative will go a long way in increasing adoption of FASTag for toll payments.”
Sajith Sivanandan, Business Head, Google Pay said, “NETC FASTag is an important milestone in bringing the efficiencies of digital payments into transit and making interstate travel frictionless. We are very pleased to be joining hands with ICICI Bank to extend the facility of NETC FASTag purchase to millions of users across India through Google Pay. This is a great example of an entire ecosystem working in concert to bring ease and convenience to the lives of users in a very tangible way.”
Praveena Rai, COO, NPCI said, “We are pleased to associate with Google Pay and ICICI Bank to increase the adoption of NETC FASTag and facilitate its doorstep delivery to the customers. We believe this initiative will provide vast reach and enable vehicle owners to avail it at the comfort of their homes – eliminating the need for visiting a kiosk or the bank amid pandemic. With this collaboration, consumers will have an added benefit of being able to recharge their FASTag seamlessly and conveniently via UPI on Google Pay. With robust acceptance infrastructure and interoperability we are witnessing a transformation of urban mobility systems as commuters are widely accepting NETC FASTag to undertake seamless, contactless and stress free toll transactions and enjoy a smooth ride.”