NPCI set to expand FASTag for parking across few major cities

The National Payments Corporation of India (NPCI) is set to expand its contactless car parking facility across major cities like Delhi, Mumbai, Chennai and Bengaluru in partnership with banks.

The retail payments body said contactless FASTag payment offering has been started with 10 banks, including ICICI Bank, at GMR Hyderabad International Airport. Within the next few weeks, other issuer banks will also activate contactless parking at the airport.

NPCI has initiated discussions with malls, airports and other private lots in Chennai and Bengaluru for implementation of NETC FASTags. Consumers who were using FASTags in their cars for payments of toll at toll plazas across the country, will now use the same tags for payment of parking charges.

“In this new normal, during the COVID-19 pandemic, 100 percent contactless payment solution is going to be the need of the hour. Our endeavour at NPCI is to provide customers across the country a safe, hassle-free and truly contactless vehicle parking experience with NETC FASTag,” said Praveena Rai, Chief Operating Officer at NPCI.

The model works in both prepaid parking systems as well as postpaid modes of payments. It is a completely contactless solution that has been built by NPCI in partnership with banks.

FASTag has seen a major jump in adoption after the central government mandated it across all toll plazas along national highways. NPCI data shows that in June there were 81 million FASTag payment transactions. More than Rs 1,500 crore was settled through this platform.