Unocoin announces FASTag payment services for cryptocurrency users

Unocoin | PC-Shutterstock

Bengaluru-based technology startup and India’s first entrant into the bitcoin industry, Unocoin, on September 21 announced the launch of a new app feature that supports users with FASTag account top-ups and a hassle-free interstate commute.

To avail this facility, an app user needs to deposit or purchase Bitcoin in the Unocoin Wallet along with a pre-secured FASTag sticker. A user, however, can choose any of the seventeen operators listed on the platform.

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Once selected, the user will be required to enter the vehicle registration number and FASTag top-up amount. The minimum amount is Rs 100 and the maximum can go till Rs 10,000, provided there is enough bitcoin in your account to cover it. There is no extra charge or expenses involved in creating a FASTag and the user can make unlimited amount of transactions throughout the day.

"In a bid to celebrate the increased usage of Crypto users on our platform, we introduced bitcoin as a new mode of payment gateway for FASTag. With this development, Unocoin aims to make the interstate travels seamless and encourage more Indians to adopt this smooth method of payment for various other transactions as well," CEO & Co-Founder of Unocoin said, adding, "We currently have 1.38M+ cryptocurrency users on our platform."

Operated by the National Highway Authority of India as a mandatory payment system, FASTag is an electronic toll deduction system enabling contactless toll payment for vehicles. This The platform facilitates electronic toll deductions without the hassles of waiting in queues.