Electronic Toll Collection’s Surge goes on as the FASTag Purchase Reaches Two Millon Mark

When the electronic method of toll collection was introduced in 2016 by the Government of India, there were more doubters than believers. Lack of technologically equipped highway infrastructure as well as incompetent systems to solve commuter issues were part of a larger problem. The entire functioning of the highways had to go under review and a fresh action plan was required to be developed to revamp the framework on the entire stretch of highways in the country. Recent update on FASTags, the Radio-frequency Identification (RFID) technology enabled tags for electronic tolling confirms that more than 2 million people in India are now using FASTags for paying their toll taxes on highways. This incredible landmark explains the assiduous and indefatigable efforts of the National Highways Authority of India even more.
As the project gains further momentum, big banks such as ICICI and non-bank entities like Paytm have also made their interest evident by entering the arena. The estimates by Worldline, a payments processer, which works on FASTag implementation with eight banking organisations, state that more than 800,000 tags have been issues in the past four months. In March, revenue collection via FASTag reached a staggering cumulative figure of Rs 25 million. FASTag?s prompt and convenient mechanism has received plaudits in the recent months. The RFID enabled tag allows payment directly through a linked prepaid account, allowing cash-less commuting on the National Highways (NHs).
The top vending establishments such as ICICI and SBI are devising distinct strategic plans to ease the sales of FASTags even more. SBI, for example, is said to be working with four different partners on ground to implement FASTags. To boost issuance, each entity involved is targeting car and commercial vehicle dealerships. The idea behind the move is handing over these vehicles to the customers with a FASTag pre-fixed on the windshield. For the vehicles that are already on road, organisations are combining their efforts with workshops and fuel stations, where the tags are sold by their adroit sales teams. As banks prepare their expansion plans, initiatives for Commercial Vehicles (CVs) are also entering the frame. It is understood and accepted that CVs face time delays that impact their business, and steps are in place to increase the issuance for these vehicles as well.
In the next couple of years, the government has also set its sights to push digital payment of toll by half of the vehicles that are already plying on roads. In most developed nations, about 70-80% road commuters pay their toll taxes through an electronic system. The implementation of FASTag has long-term benefits, but if recent statistics are to be taken into consideration, the country?s shift to an advanced tolling system is progressing according to plan.
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