History and background of FASTag:
FASTag is a system that was initially set up as a pilot project in the year 2014 on the stretch of the Golden quadrilateral between Mumbai as well as Ahmedabad. It makes use of the radio frequency based identification technology, so as to make the toll payments directly from the savings or prepaid account. FASTag is usually affixed on the windscreen of the vehicle of a person. In order to make promotion of the cashless transactions, it facilitates its buyers as well as users with a cashback discount of 7.5%.
It is a perfect solution for a stress free trip on national highways. This system was implemented on Delhi- Mumbai, i.e. the arm of golden quadrilateral on 4th November 2014. FASTag was rolled out to 247 toll plazas on national highways across India representing 70% of all toll plazas in the country at the time. FASTag will be mandatory for all the four wheels vehicles in the upcoming years.
A FASTag has a validity of five years that can be recharged after completion of the validity. The minimum amount of recharge is RS.100. One can buy the card for just RS. 200. Also, for the card the KYC of the documents is mandatory to be done. The range for recharge after KYC of documents is Rs.1, 00,000, but before qa recharge it is just Rs. 20,000. The interested ones can make the recharge by making use of the digital apps like Paytm.
Paytm is one of the most reliable and popular providers of the FASTag. It is simple as well as reusable tag. It enables toll fee collection on highways across the country, as it is operated by the national highways of India. Paytm is directly linked to FASTag, so as to facilitate instant automatic deduction of toll taxes. Paytm and FASTag are playing a pivotal role in the life of every person, who is purchasing a new car in India. If one already has a vehicle, he/she can buy FASTag online on the Paytm app.
Paytm facilitates its users with FASTag to enjoy a cashback discount of just 7.5%. One is not required to make a recharge, if one is having enough money in his/her Paytm wallet. This program has led to an increasing awareness about the cashless procedures among the persons. This project is being run in partnership with the National Highways authority of India and the NPCL.
One can easily buy a FASTag online from Paytm Mall. Also, one can search on the official website of FASTag and can see the details of the other charges that are to be paid. The users interested can read the instructions that are mentioned in the FASTag parcel. The sticker will be placed behind the rear view mirror of their vehicle. One can also make use of the Paytm, so as to make the money transfer. One can also get to know about the transaction details of their Paytm wallet.