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Digital Parking: Paytm brought Fastag based parking service, Delhi Metro started, know what are its benefits

Paytm FASTag-based parking service: Paytm is planning to set up FASTag based parking service across the country. It was started by the company from Kashmere Gate Metro Station.

Paytm FASTag-based parking service: Digital payment and financial services company Paytm has planned to start FASTag based parking service across the country. The first such project has been done by Paytm with Delhi Metro Rail Corporation.




Paytm Payments Bank Limited (PPBL) on Monday said that it has launched the country’s first FASTag-based metro parking facility in partnership with Delhi Metro Rail Corporation (DMRC).

Kashmere Gate Metro Station started

PPBL as the acquisition bank of this project will look after the FASTag based transactions for all the cars having valid FASTag sticker for parking facility at Kashmere Gate Metro Station, so that these vehicles will not need to stop at the counter for making cash payment. .

Apart from this, Paytm Payments Bank has enabled UPI based payment for two wheelers coming in the parking area.

Step towards digital parking

DMRC MD Mangu Singh said in a statement issued by PPBL that this is another attempt to move towards digitization for the customers of DMRC. Especially in today’s time when contactless transactions are the need of the hour, this is even more important.

Highest fastag issuing bank

Paytm Payments Bank became the first bank in the country to issue 10 million FASTag in June. According to NPCI, by the end of June 2021, more than 3.47 crore FASTag were issued by all banks simultaneously.




The statement said that PPBL will digitize parking facilities across the country. Under this, the parking of Kashmere Gate metro station will be the first station to be operated with digital payment solution. Paytm Payments Bank is working closely with various municipal corporations in several states to introduce FASTag-based parking facilities, both organized and unorganized.

The bank is also in discussions with various stakeholders to implement digital payment solutions for parking areas at shopping malls, hospitals and airports.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
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