Paytm has finally enabled direct FASTag recharges through its app. This development comes in the wake of the Reserve Bank of India (RBI) imposing restrictions on Paytm Payments Bank Ltd (PPBL) under section 35A of the Banking Regulation Act, 1949. The central bank had asked PPBL to stop onboarding new customers and barred the bank from taking fresh deposits after February 29, 2024, later extending the deadline to March 15, 2024.
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The RBI had stated that PPBL’s FASTag users would not be able to recharge or top up their balance post-March 15, but they could use the balance in their accounts to make payments. In response, the National Highways Authority of India (NHAI) advised existing Paytm FASTag users to procure a new FASTag issued by another bank before March 15, 2024.
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Purchase FASTags from HDFC Bank
Paytm has officially announced that users can recharge their FASTags anytime and anywhere. Paytm users now have the option to purchase new FASTags from HDFC Bank directly through the app.
FASTags are mandatory for all four-wheeler vehicles and use radio-frequency identification technology (RFID) that is stuck to the vehicle’s windscreen. When a vehicle crosses a toll plaza, the FASTag facilitates the instant automatic deduction of toll charges, making toll payments more efficient.
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To recharge a FASTag on the Paytm App, users can follow these steps:
- Tap ‘FASTag Recharge’ option under ‘Bill Payments’ section
- Select your FASTag issuing bank
- Enter your FASTag linked vehicle number and tap on ‘Proceed’
- Confirm details, enter amount
- Tap on ‘Proceed to Pay’ to complete
- Once the recharge process is complete, the amount is instantly updated to your FASTag. Meanwhile, Paytm users who wish to buy HDFC FASTag can follow the process mentioned below:
- On the Paytm app, search for ‘Buy HDFC FASTag’ and tap on it
- Enter customer and vehicle details
- Make payment and get the HDFC FASTag delivered to your home address
Paytm has announced that basic functions including UPI transactions, QR code, Soundbox, and Card Machine payments, are operating without any interruptions.
