Six Paytm FasTag alternatives you can consider

On January 31, the Reserve Bank instructed Paytm Payments Bank (PPBL) to cease accepting deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29. However, the RBI extended this deadline to March 15 last week. Subsequently, the RBI has directed the National Payments Corporation of India (NPCI), the UPI watchdog, to assess One97 Communication Ltd's (OCL) request, the parent company of Paytm, to become a Third-Party Application Provider (TPAP) for the UPI channel, ensuring the continued operation of the Paytm app. This development gains significance as earlier this month, the Indian Highways Management Company Ltd (IHMCL), the toll collecting arm of the state-owned NHAI, removed Paytm Payments Bank from the list of 32 authorised banks permitted to sell Fastags. Nonetheless, users who have linked their Paytm account to other banks such as ICICI, HDFC, Axis, and others need not be concerned.

So, if you are also a Fastag user then, here are five alternatives to the Paytm Fastag

A FASTag is an electronic toll collection system in India, operated by the National Highways Authority of India (NHAI). It employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.

The Canara Bank FASTag offers an electronic toll collection solution provided by one of India’s leading public sector banks. Applying for a Canara Bank FASTag is convenient, as it can be done online through the Canara Bank website or offline by visiting any Canara Bank branch or authorized point-of-sale locations. Additionally, you have the option to purchase a Canara Bank FASTag from online platforms like Amazon or Flipkart and link it to your Canara Bank account. The Canara Bank Fastag incurs a one-time fee of Rs 100 along with a refundable security deposit of Rs 200. ou can top up your FASTag wallet account through Credit/Debit Card, Net Banking, and other methods.

HDFC Bank offers FASTag, a convenient solution for seamless toll payments. Upon issuance, the HDFC Bank FASTag functions akin to a prepaid card, with the loaded amount linked to the FASTag number. Displaying the tag number on the vehicle's windshield screen facilitates toll payment using Radio Frequency Identification (RFID) technology. The HDFC Bank Fastag incurs a one-time fee of Rs 100 alongside a refundable security deposit of Rs 100. Recharging the Fastag is flexible, with a minimum recharge amount of Rs 100 and a maximum of Rs 1,00,000.

Application for an SBI Fastag can be completed online or offline. With SBI Fastag, users encounter a one-time fee of Rs 100 and a refundable security deposit of Rs 200. Recharge options offer flexibility, with a minimum recharge amount of Rs 100 and a maximum of Rs 1,00,000. Replenishing your Fastag can be done conveniently through the SBI website and various other online payment modes.

To apply for Fastag, you must possess an active Airtel Payments Bank Savings Account or Wallet. Additionally, Airtel Thanks Gold and Platinum customers are eligible for a cashback of Rs 150 upon purchasing the Airtel Payments Bank Fastag. The Airtel Payments Bank Fastag entails a one-time fee of Rs 100 along with a refundable security deposit of Rs 200. Recharge options offer flexibility, with a minimum recharge amount of Rs 150 and a maximum of Rs 1,00,000. You can conveniently load funds into your linked Airtel Payments Bank account or wallet through internet banking, credit card, debit card, or UPI via the Airtel Thanks app or internet banking.

IDFC First Bank Fastag serves as an electronic toll collection system facilitating automated payments for tolls, fuel, and parking. Application for this service can be made online or offline, with recharge options available through multiple payment methods. Like typical Fastags, it entails a one-time joining fee of Rs 100, along with a minimum balance requirement of Rs 200 and zero security deposit.

Axis Bank allows users to buy FASTag online and it will be delivered to their home. Users just need to go to fastag.asixbank.co.in and initiate their application. Alternatively, users can also walk into their nearest Axis Bank branch and buy a FASTag. Charges application on FASTag into issuance fee, one-time security deposit which is refundable on closure of the wallet and the corresponding charges on reloading the FASTag wallet. Similar to standard Fastags, it involves an initial joining fee of Rs 100, coupled with a minimum balance prerequisite of Rs 200 and no security deposit.