Paytm Payment Bank, in an effort to widen its array of services, has come up with a device, which uses electronic Radio Frequency Identification (RFID) technology – FASTag. The device helps easing out the toll collection process across the 380 toll plazas across the country. By availing the service of FASTag, customers can easily pass through these toll plazas, without waiting in the queue.
The RFID technology, which is essentially reusable, will be connected with the vehicle, which in turn, gets linked with the Paytm account. Well, this connection is meant to ease out the instant collection of toll charges. In announcing Paytm FASTag, the company officials maintained that customers would get a cashback of 7.5% on every transaction conducted through the app at the toll plazas.
