ICICI Bank announced on Monday, December 28, that it has collaborated with Google Pay to issue FASTag, a reloadable tag for the automatic deduction of toll charges that allows users to pass through the toll plaza without stopping for any in-hand cash transaction.
With this collaboration, Google Pay users will get order, track, and even recharge ICICI Bank FASTag digitally on the payments platform itself.
A statement released by the bank by Sudipta Roy, Head – Unsecured Assets, said, “With the increased adoption of digital payments in all walks of life, we believe that this collaboration with Google will help Google Pay users to apply for a new FASTag and get it delivered free of cost at their doorstep. We believe that this initiative will go a long way in increasing adoption of FASTag for toll payments.”
FASTag is a brand name owned by the Indian Highways Management Company Ltd. (IHMCL), which carries out electronic tolling and other ancillary projects of National Highway Authorities of India (NHAI).
NPCI – National Payments Corporation of India (NPCI), IHMCL and NHAI are functioning for the development of the states and the national highway toll payments entirely digital.
Google Pay’s Business Head – Sajith Sivnandan, said, “NETC (National Electronic Toll Collection) FASTag is an important milestone in bringing the efficiencies of digital payments into transit and making interstate travel frictionless. We are very pleased to be joining hands with ICICI Bank to extend the facility of NETC FASTag purchase to millions of users across India through Google Pay.”