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

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