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National Payments Corporation of India (NPCI) recently announced complete details of FASTag transaction during July 2020. According to the reports, NPCI said that the transaction count during last month has crossed over 86 million.
In July 2020, the transaction count of NETC FASTag stood at 86.26 million with transaction value Rs. 1623.30 crore. The National Electronic Toll Collection (NETC) programme has witnessed a sharp jump of 54 per cent as compared to the previous two months.
The organization reported that during June 2020, it did a transaction count of 81.92 million and a transaction value of Rs. 1511.93 crore. The numbers have increased for the previous month by a substantial margin.
Praveena Rai, Chief Operating Officer, NPCI, said, "We are glad to witness NETC FASTag scaling new heights within four years of its inception. The interoperability of NETC FASTag has helped millions of vehicle owners get the seamless toll plaza experience. We at NPCI strive to make essential travel safer for customers and provide them with make contactless, hassle-free and convenient toll payments."
She further added, "We are confident that NETC FASTag will see increased adoption in the future as it is also venturing into the state highways, city toll plazas and parking lots, enabling digital Contactless Toll Payment facility to local city residents as well."
The rise in numbers is mostly due to the nation-wide lockdown, which has been lifted recently. Also, the start of inter-state travel in the country after the lockdown. Additionally, users prefer to make a contactless payment to ensure safety during the ongoing Covid-19 pandemic in the country.
Commercial vehicles entering the toll accounts for significant amount of transactions as compared to private cars. The transactions took a hit when even the commercial vehicles going through the toll stopped coming due to the temporary shutting down of operations of businesses and factories.
However, most businesses are reaching their operational normalcy with production and manufacturing. As a result, the goods are being transported to various states, which will require most vehicles to cross a toll using FASTag.
In addition to this, NPCI also announced a new service which will enhance the FASTag user experience. Users can now pay for parking at various locations such as Airport, malls, and other public areas. The new service is available only in major cities like Delhi, Mumbai, Chennai, Bengaluru and Hyderabad.
Thoughts About The FASTag Transactions Crossing 86 Million In July 2020
FASTag is a quick and easy way to deal with toll transaction which is being accepted across the country. The service will cater to the growing demand for contactless payments during the Covid-19 pandemic times. Banks are also helping by making it easier for customers to recharge the tags using their accounts via a smartphone application as well.