NHAI to collaborate with Oil Marketing Companies for issuance of FASTags through petroleum retail outlets
To ensure easier availability of FASTags, Indian Highways Management Company Ltd. (IHMCL), a company promoted by NHAI, is signing MoUs with state-run Oil Marketing Companies (IOCL, BPC, and HPC) on 7th January 2019. It will ensure availability of FASTags at petroleum outlets across India. In the first phase, the tags will be available across 50 Fuel Station in Delhi NCR, which will subsequently be expanded to outlets across India. IHMCL has been mandated to implement the National Electronic Toll Collection Program (NETC) in the country. The company launched the program under the brand name “FASTag” in April 2016. The program has achieved resounding success over the years and is now operational at over 450 toll plazas along the National Highways and select State Toll Plazas. In the current NETC program, FASTags are being issued by certified banks only through limited channels such as Point-of-Sale at NH toll plazas, online, and selected bank branches, etc. Recent government measures like proposed FASTag – GST integration and FASTag acceptance at all Toll Plazas in India, have led to an urgent need of scaling up the FASTag marketing channels. These MoUswill help IHMCL to cater to the evolving market expectations. To further supplement the strategy, IMHCL is also planning the launch of two mobile applications – MyFASTag and IHMCLPOS. These apps will enable customers to link the FASTags with their preferred bank account, recharge the FASTag via UPI platform, and also ensure that the tags are bank neutral. IHMCL is also striving for the vision of One Nation – One Tag by aligning with various State Authorities/SPV to ensure that FASTag becomes the preferred digital payment instrument at State/Municipal Plazas. Twenty-six toll plazas located across Maharashtra, Madhya Pradesh and Hyderabad have been already covered under the scheme, while discussions are on with other State Government/agencies to help in achieving the vision of cashless economy running on a Digital India platform. These measures will eventually help NHAI cater to its commitment of providing a safe, smooth and seamless journey to commuters on National Highways. The enhanced adoption of FASTag program will increase user convenience by offering seamless toll-fee payments at Plazas and thus help save time, money and fuel. The online payments will improve transparency of toll transactions, reduce revenue leakages, and improve overall efficiency and commercial competitiveness. Read the full article