ICICI became first bank to collaborate with Google to offer FASTag through app BANK NEWS



New Delhi: ICICI Bank today announced its collaboration with Google Pay for issuance of FASTag through UPI on the payments app. This enables Google Pay users to order, track, and even recharge ICICI Bank FASTag conveniently and fully digitally through UPI on the payments app itself. This initiative ensures the safety of the applicants as they don’t have to visit merchants or toll locations to buy a FASTag. With this, ICICI Bank becomes the first bank to join hands with Google Pay for the issuance of FASTag.

FASTag is a brand name owned by Indian Highways Management Company Ltd. (IHMCL), which carries out electronic tolling and other ancillary projects of National Highway Authorities of India (NHAI). National Payments Corporation of India (NPCI), IHMCL, and NHAI are working together to make state and national highway toll payments completely digital.

The collaboration of ICICI Bank with Google Pay further strengthens digital payments for FASTag. ICICI Bank has recently integrated FASTag at Mumbai toll plazas and parking zone at GMR Hyderabad International Airport, in an endeavor to promote the adoption of a safe, contactless, hassle-free transaction experience for commuters, and expand the usage and acceptance of FASTag. The Bank was the first to launch the innovative service of FASTag nationally, on the Mumbai – Vadodara corridor, way back in 2013.

Speaking on the collaboration, Mr. Sudipta Roy, Head- Unsecured Assets, ICICI Bank said, “With the increased adoption of digital payments in all walks of life, we believe that this collaboration will help Google Pay users to apply for a new FASTag through UPI and get it delivered free of cost at their doorstep. The association comes in handy for Google Pay customers, even if they are not customers of ICICI Bank, during the pandemic as it allows them to order and receive FASTag in a seamless and contact-less manner. With this, ICICI Bank has achieved another feat in the FASTag ecosystem by introducing inter-operability between banks on a digital payments platform like Google Pay. We believe that this initiative will go a long way in increasing adoption of FASTag for toll payments.”

Mr. Sajith Sivanandan, Business Head, Google Pay said, “NETC 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. This is a great example of an entire ecosystem working in concert to bring ease and convenience to the lives of users in a very tangible way.”

Ms. Praveena Rai, COO, NPCI said, “We are pleased to associate with Google Pay and ICICI Bank to increase the adoption of NETC FASTag and facilitate its doorstep delivery to the customers. We believe this initiative will provide vast reach and enable vehicle owners to avail it at the comfort of their homes – eliminating the need for visiting a kiosk or the bank amid a pandemic. With this collaboration, consumers will have the added benefit of being able to recharge their FASTag seamlessly and conveniently via UPI on Google Pay. With robust acceptance infrastructure and interoperability, we are witnessing a transformation of urban mobility systems as commuters are widely accepting NETC FASTag to undertake seamless, contactless, and stress-free toll transactions and enjoy a smooth ride.”


Below are the quick steps to avail FASTag from Google Pay: 

Open Google Pay and click on ‘ICICI Bank FASTag’ under ‘Businesses’ 
Click on ‘Buy new FASTag’ 
Enter your PAN, RC copy, vehicle number, and address details 
Verify mobile number through OTP
Proceed for payment. Order gets placed once the payment is done. 
ICICI Bank customers can avail FASTag using the Bank’s digital channels of banking including internet banking, iMobile app, InstaBIZ app, Pockets app, or by visiting their nearest bank branch. The tag can be reloaded with funds seamlessly online using the Bank’s internet banking, UPI, and NEFT platforms. Commuters who are not the customers of ICICI Bank can purchase FASTag using the Pockets app or by simply visiting www.icicibank.com/fastag

About ICICI Bank:

ICICI Bank Ltd (BSE: ICICIBANK, NSE: ICICIBANK, and NYSE: IBN) is a leading private sector bank in India. The Bank’s consolidated total assets stood at Rs14,76,014 crore on September 30, 2020. ICICI Bank's subsidiaries include India's leading private sector insurance, asset management, and securities brokerage companies, and among the country’s largest private equity firms. It is present across 15 countries, including India.

Posted Date :  29-12-20

Categories : BANK NEWS

Tag Cloud: BANK NEWS

Similar news

Yes Bank launched YES MSME

New Delhi: Yes Bank's great initiative for Micro, Small and Medium Enterprises (MSME) to strengthen them, the ban launches YES MSME which will facilitate speedy and easy access to funds.  Yes Bank said, the YES MSME is focusing on the supporting values which expand the growth of MSM
Posted Date :  21-01-21

Read more

RBI release 2020 list of Domestic Systemically Important Banks

New Delhi: SBI, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as in the 2018 list of D-SIBs. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs was phased-in from April 1, 2016, and became full
Posted Date :  21-01-21

Read more

IBPS agrees to re-conduct the exams missed due to bad weather

Srinagar: The online test for the candidates who missed the ongoing J&K Bank Banking Associate examination due to extreme weather on 3rd, 5th and 9th of January, 2021 shall be held again. The decision comes after J&K Bank Chairman and Managing Director (CMD) R K Chhibber requested the author
Posted Date :  13-01-21

Read more

Reserve Bank of India imposes monetary penalty on Deutsche Bank AG

New Delhi: The Reserve Bank of India (RBI) has, by an order dated January 12, 2021, imposed a monetary penalty of Rs 2 crore (Rupees Two Crore only) on Deutsche Bank AG (the bank) for non-compliance with certain provisions of directions issued by RBI contained in the “Reserve Bank of India (In
Posted Date :  13-01-21

Read more

SBI donates Rs 5 crore to NSDF for Target Olympic Podium Scheme

Mumbai: With the aim to support and provide all the necessary aid to the Indian Olympic Team, the State Bank of India (SBI) has come forward to donate Rs. 5 crores towards National Sports Development Fund (NSDF). This amount would be utilized for customized training of the Olympic Team under reputed
Posted Date :  09-01-21

Read more

IDFC First Bank showed provisional figures of Q3 FY21

New Delhi: IDFC First Bank appended the provisional figures mentioned at 31 December 2020 under the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information in
Posted Date :  07-01-21

Read more

BoB Completes Migration of erstwhile Dena and Vijaya Banks

New Delhi: Bank of Baroda, the country’s third-largest public-sector bank (PSB) by assets, has completed Integration / Migration of 3898 branches of erstwhile Vijaya Bank and Dena Bank with itself. The Bank has completed the integration of 1770 erstwhile Dena Bank Branches in December 2020
Posted Date :  26-12-20

Read more

Bank of Maharashtra organizes Exporters-Importers Meet

Pune: Bank of Maharashtra (BoM), a premier public sector bank in the country, organized Exporters-Importers Meet at Pune on 21st December 2020. More than 80 Exporters & Importers including the prominent business houses of Pune Participated in the event.   Mr. Hemant Tamta, Execut
Posted Date :  26-12-20

Read more

YES Bank collaborates with Salesforce

Mumbai: YES BANK, on December 22, 2020, announced a collaboration with Salesforce, the global leader in Customer Relationship Management, to build a next-generation technology platform to power the retail lending business, in line with the Bank’s strategy to further scale up its retails ass
Posted Date :  25-12-20

Read more

RBI Cautions against unauthorized Digital Lending Platforms

New Delhi: RBI has cautioned that legitimate public lending activities can be undertaken by Banks, Non-Banking Financial Companies (NBFCs) registered with RBI, and other entities who are regulated by the State Governments under statutory provisions, such as the money lending acts of the concerned
Posted Date :  25-12-20

Read more

RBI Governor meets MD and CEOs of Public and Private Sector Banks

New Delhi: Governor of the Reserve Bank of India (RBI) held meetings with the MD/CEOs of Public Sector Banks and select Private Sector Banks on December 22 and 23, 2020 respectively through video conference. The meetings were attended by Deputy Governors, RBI.   In his opening remark
Posted Date :  24-12-20

Read more

Central Bank of India Ranchi region celebrated 110th Foundation Day

Ranchi: The Central Bank of India celebrates its 110th Foundation Day with great joy and enthusiasm in Ranchi. The program was inaugurated by Ajay Kumar Singh, Senior Regional Manager of the Ranchi region, with reverence on the lamp and the portrait of the founder of the bank.   Spea
Posted Date :  21-12-20

Read more

Canara Bank gives clarification on the exposure of Rs 678 crore

Chennai: Canara Bank, a premier public sector Bank clarifies that it has an exposure of Rs.678.28 crore in the account of M/s Transstroy India Ltd, reported as fraud to RBI on 10.02.2020 where 100% provision has been made in the account.   M/s Transstroy India Ltd. (TIL), established
Posted Date :  19-12-20

Read more

India post payment bank launched DakPay

New Delhi: India Post Payments Bank and Department of Posts launched a digital application called 'DakPay'. The application was launched on Tuesday, December 15, 2020, to facilitate easy digital transactions and other banking services.   "The app is launched as part of i
Posted Date :  16-12-20

Read more