Paytm Payments Bank has become the first bank in the country to achieve the milestone of issuing 1 crore FASTags. According to the National Payments Corporation of India (NPCI), over 3.47 crore FASTags were issued by all banks together till the end of June 2021. Paytm Payments Bank (PPBL) now has close to 28 per cent share as FASTag issuer bank. In the last 6 months alone, PPBL has equipped over 40 lakh commercial & private vehicles with FASTags.
Besides this, Paytm Payments Bank is also India’s largest acquirer of toll plazas for the National Electronic Toll Collection (NETC) program offering an interoperable nationwide toll payment solution. According to PPBL, 280 out of the total 851 toll plazas across the national and state highways are now using its payment gateway to collect toll charges digitally.
Important takeaways for all competitive exams:
- Paytm HQ: Noida, Uttar Pradesh;
- Paytm Founder & CEO: Vijay Shekhar Sharma;
- Paytm Founded: 2009.