Toll plazas to go cashless, Paytm

Payment platform Paytm has reportedly won a contract for automatic toll collections at highways in India. According to a leading business daily, the eCommerce platform has recognised 40 highways to enable real-time cashless toll. Commuters can pay tolls instantly with their mwallet.

Raghav Chandra, Chairman, National Highways Authority of India (NHAI) confirmed to the daily that Paytm has won the contract. At many countries, the concept of electronically managed tolls are already installed and has been successful in saving time—streamlining the entire process, making it hassle free.

As per an official statement, NHAI is also offering 10% discounts on payment through digital modes. NHAI has already implemented e-tolling service at about 300 toll plazas across the country that allowed vehicles with FASTag cards to pass seamlessly.

Right after PM’s announcement to scrap 500 and 1000 rupee notes, eCommerce startup biggies have been promoting cashless payments rigouriously. Paytm has now announced a new ‘Nearby’ feature that will make it easier for users to identify the nearby Paytm merchants. This feature currently lists over 2,00,000 merchants, and Paytm promises to have over 8,00,000 merchants in a short time.