Question: Which of the following Payments Bank has partnered with Delhi Metro Rail Corporation (DMRC) to launch the country’s first FASTag-based metro parking facility?
a) Paytm
b) Amazon
c) Airtel Payment Bank
d) HDFC
Answer :(a)
Related Facts:-
- Digital payment startup Paytm has partnered with Delhi Metro Rail Corporation (DMRC) to enable the country’s first FASTag-based metro parking facility.
- It should be known that Paytm Payments Bank Ltd (PPBL), which is the acquiring, bank for the parking site at the Kashmere Gate metro station.
- PPBL said that it will collect parking fees via FASTag. Paytm FASTag will eliminate the need for stopping the car.
- With the implementation of the PPBL powered FASTag system, car owners are no longer required to tender cash and parking fee.
- It is deducted directly from the wallet or account linked with the FASTag of the respective vehicles.
- Two-wheeler owners can also pay their parking fees digitally at the metro station via a simple UPI payment.
- Currently, the facility is available at the metro station’s gate number 6 and it offers parking space for 174 two-wheelers & 55 four-wheelers.
- DMRC Managing Director expressed on the occasion that contactless transactions are the need of the hour and it is a step towards digitalisation.
- About FASTag:
- An electronic toll collection system operated by NHAI is known as FASTag.
- Toll collection is done in this system by using Radio Frequency Identification (RFID) technology.
- Radio Frequency Identification (RFID) technology makes it possible to receive the payments directly from a linked account.
- FASTag is fixed in the front of the vehicle and allows to drive through tolls without stopping for payments.
Links:-
http://www.businessworld.in/article/Paytm-Collaborates-With-DMRC-To-Launch-India-s-first-FASTag-based-metro-parking-facility-/13-09-2021-404384/
https://www.republicworld.com/business-news/india-business/paytm-launches-fastag-based-parking-services-at-kashmere-gate-metro-station.html