Paytm Will Give 1 Lakh FASTags To Drivers

Paytm Payments Bank said it has entered into a strategic partnership with ride-hailing companies, Ola and Uber, and will issue FASTags to more than 1 lakh driver-partners.

Paytm is also working with Ola at Bangalore airport and other local locations including Indira Nagar, Devanahalli, and Electronic City transport hubs to fasten the adoption of electronic toll payments in India. The new campaign, targeting gig economy drivers, comes just days after Paytm renewed its exclusive payment partnership with Uber.

The tie-ups would empower over one lakh driver-partners to conveniently use Paytm FASTags and seamlessly commute across the country, the PPB said in a press statement. The company said it has set up over 12 camps at Uber Green zones across all the major cities including Delhi-NCR, Bangalore, Chennai Kerala, Hyderabad, Kolkata, Guwahati, Pune, Ahmedabad, Mumbai, and Chandigarh to encourage the drivers to conveniently purchase and use Paytm FASTags.

Paytm has been heavily focusing on selling FASTags after the Centre, in January, made it mandatory for commercial and private vehicles in the country. The payments firms claims to be the largest issuer of FASTags in the country, having sold over 3 million of these so far.

The new campaign, targeting gig economy drivers, comes just days after Paytm renewed its exclusive payment partnership with Uber.

“We are happy to partner with Ola and Uber and bring their driver-partners to the formal banking system. We have a dedicated team to train them about how to use Paytm FASTags. We are also encouraging them to use Paytm banking services to transact digitally,” said Satish Kumar Gupta, MD & CEO of Paytm Payments Bank.