Question : Which of the following companies has recently (November 2021) been tied up for facilitate fuel payments using FASTag ?
a. IDFC First & HPCL
b. Bharat pay & IOCL
c. PhonePay & HPCL
d.AmazonPay & IOCL
Ans. a.
Related facts —
- IDFC First Bank has recently(November 2021) partnered HPCL to facilitate fuel payments at their retail outlets using the bank’s FASTags.
- In addition, IDFC First Bank’s FASTags can now also be bought, recharged and replaced by passenger vehicle users at select Hindustan Petroleum retail outlets.
- The deal makes the purchase and use of tags convenient for about five million motorists.
- It is notable that IDFC First Bank has issued close to five million FASTags and these tags are used actively by motorists across toll plazas with transactions averaging two million a day.
- Motorists will now have the convenience of a single form factor and single balance for payments related to road travel in the form of FASTag.
- So far, FASTags have only been used to pay for toll charges.