Paytm Payments Bank Ltd (PPBL) has launched India’s first FASTag-based metro parking facility, at the Kashmere Gate metro station in partnership with Delhi Metro Rail Corporation (DMRC). Paytm Payments Bank will be the acquiring bank to facilitate the processing of all FASTag-based transactions for cars having a valid FASTag sticker, thus eliminating the hassle of stopping and paying cash at the counter.
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About the parking facility:
- The parking facility is the first to accept payment via the UPI (unified payments interface) mode, which has been launched for two-wheeler vehicles, entering the parking site.
- PPBL will digitise parking facilities across the country with Kashmere Gate metro station being the first one to be powered by the bank’s digital payment solution.
Important takeaways for all competitive exams:
- MD and CEO of Paytm Payments Bank Ltd: Satish Kumar Gupta.
- Paytm Payments Bank Ltd Headquarters: Noida, Uttar Pradesh.