Highlights:
- Kashmere Gate metro station in New Delhi is the first to have a fully digitised parking lot.
- In partnership with DMRC, allows operators to deduct parking fees from car owners’ FASTag accounts.
- Paytm will also offer digital payment options for parking lots at shopping malls, hospitals, and airports.
Delhi Metro Rail Corporation (DMRC) and Paytm Payments Bank Ltd (PPBL) have partnered to provide the country’s first FASTag-based metro parking system.
The Company in a statement said, “As an acquiring bank for the Kashmere Gate metro station parking facility, PPBL will simplify the processing of all FASTag based transactions for vehicles with a valid FASTag sticker, avoiding the hassle of stopping and paying cash at the counter.”
Furthermore, Paytm Payments Bank (PPBL) has provided a UPI-based payment option for 2-wheelers accessing the parking site, thus digitising all parking payments at the site.
Two-wheeler vehicle owners can also pay their parking fees online at metro stations by using a simple UPI payment option.
The facility is currently open at metro station gate number 6, and it can accommodate 174 two-wheelers and 55 four-wheelers.
According to MD of Delhi Metro Rail Corporation (DMRC), Mangu Singh, said, “This is another step towards digitization in the DMRC’s endeavour to provide solutions to our customers, especially in these times when contactless transactional techniques are the need of the hour.”
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PPBL intends to expand the facility further, with Kashmere Gate metro station being the first to use the bank’s digital payment system. The bank is partnering closely with municipal corporations in multiple states to build FASTag-based parking facilities at both organized and unorganized sites.
In addition, the bank is in talks with several stakeholders about implementing digital payment solutions for parking lots at shopping malls, hospitals, and airports.
According to Satish Gupta, MD & CEO of Paytm Payments Bank Ltd, “Our goal has been to develop the FASTag network throughout our country and provide our users with seamless and hassle-free travel. In this quest, we are delighted to collaborate with the Delhi Metro Rail Corporation to provide digital payment solutions at their parking facility. We will continue to work closely with other parking providers around the country to adopt the FASTag system, which will give a secure and contactless payment option.”
