Noida-based mcommerce and mobile wallet platform Paytm has enabled real-time cashless toll collection across the Bandra-Worli Sealink and five other major toll plazas in Mumbai.
Using Paytm, commuters can now pay toll charges instantly with their mwallet.
This partnership with Maharashtra State Road Transport Corporation will help ease traffic across Mumbai. It has also partnered with MEP Infrastructure Developers to facilitate online recharge of ETC tags in Mumbai.
Related Article: Paytm To Enable Cashless Bus Booking Across Indian Cities
As per a company statement, over 45,000 vehicles use the Bandra-Worli Sea Link for their daily commute.
Paytm started out as a mobile payments and recharge business. The company has built its ecommerce marketplace during the last two years by selling apparel, footwear, smartphones, bus tickets, and movie tickets. Paytm is backed by investors including Alibaba Group, SAIF Partners, Sapphire Ventures and Silicon Valley Bank.
Paytm has been launching new services and collaborations every month in recent time. In April 2016, it launched Paytm WiFi beta.
Under this initiative, Paytm is enabling limited-duration free WiFi for its users in partnership with a licensed ISP. The company started offering Paytm WiFi to its customers and merchants to access their online Paytm account at Noida Sector 18.
In June 2016, it announced that it will offer same day delivery of products in 20 cities. Paytm has begun with deliveries with local-based commerce businesses and will further add more categories to it.
Last month, aAfter securing a $60 Mn investment from Mediatek in August, Paytm announced its plans to invest $120 Mn- $149Mn (INR 800 Cr – 1000 Cr) to develop its ecommerce business, Paytm E-commerce Pvt. Ltd.