ICICI Bank has joined palms with Google Pay back for issuance of FASTag, a reloadable tag which enables automatic deduction of toll charges and allows users go by the toll plaza without having stopping for dollars transactions.
This collaboration allows Google Pay out customers to buy, observe and even recharge ICICI Lender FASTag digitally on the payments system itself.
“With the enhanced adoption of electronic payments in all walks of daily life, we believe that that this collaboration with Google will assistance Google Pay out consumers to utilize for a new FASTag and get it delivered free of price tag at their doorstep,” Sudipta Roy, Head — Unsecured Assets, ICICI Lender, said in a statement.
“We imagine that this initiative will go a extensive way in expanding adoption of FASTag for toll payments.”
FASTag is a brand title owned by Indian Highways Administration Company Ltd. (IHMCL), which carries out digital tolling and other ancillary assignments of Nationwide Highway Authorities of India (NHAI).
Countrywide Payments Corporation of India (NPCI), IHMCL and NHAI are working to make point out and nationwide highway toll payments entirely digital.
“NETC (National Electronic Toll Selection) FASTag is an essential milestone in bringing the efficiencies of digital payments into transit and creating interstate vacation frictionless,” reported Sajith Sivanandan, Company Head, Google Spend.
“We are pretty happy to be signing up for hands with ICICI Bank to extend the facility of NETC FASTag obtain to thousands and thousands of end users throughout India through Google Pay back.”
Some parts of this article are sourced from:
gadgetsnow.com