FASTag has tied up with Indian Oil Corporation to provide cashless, contactless payment for refuelling.
The new method provides more convenience as less time is spent at petrol stations fussing over cash and change.
Users who can enjoy this feature are those who have their accounts linked to ICICI Bank.
The benefit can be availed at 3,000 Indian Oil retail outlets across the country in the initial phase.
The official statement said that ICICI Bank FASTag users can enjoy a cut in wait time as the whole experience in fuel stations is now completely digitised.
Indian Oil’s automation system removes the need for manual intervention during the fuelling process and allows customers to pay for petrol, diesel, and lubricants through ICICI Bank FASTag.
Customers should inform the attendant at the station of their payment choice.
The attendant will then scan the vehicle’s FASTag/car number plate.
The customer will then receive an OTP to validate the transaction.
The transaction will be completed when the OTP is entered in the POS machine.
Optimised Fee Collection
FASTag is used for digital toll collection across national highways.
The digitisation of the process speeds up and smoothens the toll collection process along with reducing wait time and long queues at the toll plazas.
It has a high penetration rate of 96% with 35 million users.
How One Can Buy
It can be purchased at any toll booth or online.
ID along with vehicle registration documents has to be provided for the same.
Another way of getting one is through 22 banks including State Bank of India, HDFC Bank, Axis Bank, ICICI Bank, Kotak Bank and Paytm Payments Bank.
E-commerce platforms like Paytm, Amazon and Flipkart also offer FASTags through their apps.