Jio Payments Bank on October 13 announced that it has won a contract to implement its next-generation automatic FASTag recognition-based toll collection system across two toll plazas between Gurugram and Jaipur.
In a press release, Jio Payments Bank said that it will implement the FASTag Automatic Number Plate Recognition (ANPR)-based MLFF toll collection system across two toll plazas – Shahjahanpur and Manoharpura.
How a FASTag-based MLFF toll collection system operates?
The system which is set to be implemented in the two toll plazas is an advanced electronic toll collection technology that can accurately identify, classify and charge vehicles crossing the tolls, without needing them to slow down, stop or use designated toll lanes.
"It leverages a combination of Radio-Frequency Identification, ANPR, Dedicated Short-Range Communication, and Global Navigation Satellite System technologies to ensure smooth, contactless tolling operations across multiple lanes, thereby reducing congestion and improving commuter convenience," Jio Payments Bank said.
About India's pilot MLFF project:
The company won the contract as part of the tender issued by Indian Highways Management Company Limited (IHMCL) for managing toll processing under India’s pilot MLFF project, which is aimed at enabling seamless vehicular movement on national highways. "So far, five MLFF bids have been awarded, of which JPBL has secured two, demonstrating its competitiveness in this space," the company added.
Jio Payments Bank already manages toll operations at 11 toll plazas on different highway stretches across the country as an acquirer bank. "With the acquisition of toll management rights at these two MLFF road projects, JPBL is well-positioned to play a pivotal role in the country’s evolving infrastructure-linked digital payments landscape," it said.
What Jio Payments Bank CEO says:
Speaking about the latest development, Jio Payments Bank Managing Director & CEO Vinod Easwaran said, "Our expansion into the tolling ecosystem is a natural progression of our mission to digitise everyday payments and build smart financial infrastructure at scale. This milestone reflects our commitment to delivering seamless, citizen-centric financial services and driving access, efficiency, and inclusion across the country. By leveraging the synergy of digital capabilities with the group ecosystem, we are actively building capabilities to participate in the evolving mobility ecosystem in India."
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