Ecommerce and payments platform Paytm has reportedly enabled real-time cashless toll collection across 40 highways in the country. Using Paytm, commuters can now pay toll charges instantly with their mwallet.
Raghav Chandra, Chairman, National Highways Authority of India (NHAI) confirmed that Paytm has won contracts for automatic toll collections at highways in various states, reported ET.
The electronically managed tolls are aimed at saving time at toll gates and to smoothen the overall process in the wake of government’s move towards demonetisation. As per an official statement, NHAI is also offering 10% discounts on payment through digital modes.
In April, the NHAI launched its e-tolling service at about 300 toll plazas across the country that allowed vehicles with FASTag cards, introduced by the highway authority to pass toll plazas without having to stop.
Backed by Alibaba, Ant Financial, SAIF Partners, and others, Noida-based Paytm was founded in 2010 as a digital payments platform, which then further expanded to the ecommerce sector. It currently claims to have a user base of 140 Mn and is expected to launch its Payments business by the end of this year.
Paytm has launched a slew of services this year. In January, Paytm launched Paytm Force to assist and advise small & medium sellers in its growing merchant base. In April 2016, it launched Paytm WiFi beta. In June 2016, it announced that it will offer same day delivery of products in 20 cities.
In September, it introduced Aadhaar-based eKYC (E-Know Your Customer) to make customer verification a real-time, paperless process. Earlier last month, Paytm enabled real-time cashless toll collection across the Bandra-Worli Sealink and five other major toll plazas in Mumbai.
Earlier this month, it enabled cashless payments in the unreserved bus booking sector. The service is currently available at bus counters operated by state transport undertakings (STUs) and private operators in Uttarakhand and Rajasthan.