Paytm Payments Bank enables FASTag payments at Chennai International Airport parking

Business MInutes

India's homegrown Paytm Payments Bank Limited (PPBL), announced that it now enables convenient payments for car parking at the Airport Authority of India (AAI) authorized Chennai International Airport using FASTag. The Bank has partnered with Olympia Group, a prominent real estate developer based out of South India, to enable frictionless and time efficient vehicle movement in the parking zone.

Using FASTag, car owners at Chennai International Airport will no longer be required to tender cash, empowering them with seamless and hassle-free travel. As the vehicle passes the entry or exit, a sensor will read the radio-frequency identification (RFID) sticker on the vehicles following which the applicable parking charges will be automatically deducted from the user's Paytm Payments Bank Wallet or the respective account linked with the FASTag at all enabled parking lots.

Paytm Payments Bank spokesperson said, "We are constantly striving to streamline the airport parking fee payment process and to reduce the time spent at the entry/exit of the parking plaza. Paytm Payments Bank FASTag parking solution provides a convenient digital payment solution for paying the airport parking fees, making vehicle movement in the parking zone frictionless and time efficient. Our aim is to offer a simple, secure, and seamless payment experience to all our customers."

Balaji A J, CEO, Olympia Group said, “The FASTag system has an efficient process for managing vehicular movement that provides a seamless experience to the passengers traveling at the airport.This is another significant step forward in enabling the Digital India initiative.”

Paytm Payments Bank has issued more than 1.80 Cr FASTags till date, making it the largest issuer of Fastag in the country. The Bank has enabled similar solutions at other prominent airports such as Dehradun, Pune and Indore along with enabling various prominent mall parkings in India as well. It is also one of the largest acquirers of toll and parking plazas for the National Electronic Toll Collection (NETC) program, offering an interoperable nationwide toll and parking payment solution.


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