December 30, 2024 Ultimate News Hub

The benefits of FASTag for transporters

FASTag is a digital payment system introduced by the Indian government for automatic cashless toll payments. It is mandatory for all vehicles in India as per the Ministry of Road Transport and Highways (MoRTH) and is issued by several authorised banks and agencies through whom you can buy FASTag online or offline. 

FASTag is designed to make the toll payment process faster, smoother, and more efficient, and has numerous benefits. Whether you are a frequent traveller or an occasional driver, FASTag offers a hassle-free and sustainable way of making toll payments.

5 FASTag benefits you should know about 

  1. Saves time

Since FASTag allows for automatic cashless toll payments, transporters do not have to wait in long queues and pay by cash. This helps reduce the waiting time at toll plazas, expediting the toll collection process, and allowing for efficient vehicle movement on highways, saving time. Whether you are on a road trip with friends or driving to an important work meeting in another city, your journey may turn out to be a lot smoother and quicker with the time saved using FASTag. 

  1. More sustainable 

FASTag is a more sustainable way of making toll payments for a couple of reasons. First, it helps reduce fuel consumption as it reduces the waiting time in queues at toll plazas. Not only is this good for the environment, but it can also help you reduce costs. Second, there are no paper receipts exchanged at the toll plaza since FASTag facilitates digital payments and records. 

  1. Easier transaction management 

FASTag allows for easy transaction management as you can check all your FASTag transactions on the online FASTag portal or on the mobile banking app of the bank that issued your FASTag. Since you also receive an SMS and email alert every time a toll deduction is made through your FASTag, you are always in the loop of your FASTag transactions and wallet balance. 

  1. Convenient recharge 

FASTag allows for convenient recharge through various online modes including UPI, internet banking, or debit or credit card. This means that you can undertake FASTag recharge online at any time from anywhere at your convenience as long as you have internet access. This is especially convenient for frequent travellers or those who travel at odd hours.

  1. Multiple use cases

One of the benefits of FASTag is that it has multiple use cases. Not only can you use it for toll payments at national and state highways across the country, but you can also use it to pay parking fees in parking plazas in malls, hospitals, airports, corporate parks, etc. As of now this is available in select locations in certain metro cities such as Mumbai, Delhi, Pune, etc., but will be increasing over time. 

Wrapping up

To summarise, the benefits of FASTag for transporters in India are significant. It eliminates the need for cash transactions, saves time, reduces fuel consumption, simplifies transaction management, offers convenient recharge options, and has multiple uses. The benefits of FASTag for transporters will only continue to grow as more highways, toll plazas, and parking plazas adopt this technology, providing a more hassle-free experience for everyone on the road.

in Finance
Related Posts

Steps for Thriving Interview of Banking

August 29, 2022

August 29, 2022

If you qualify in the prelim and mains exam, you will be called for a personal interview by the recruiting...

Intraday trading for beginners – get to know all the basics

August 10, 2021

August 10, 2021

Are you thinking about intraday trading and cutting the potential losses to a minimum? Do you want to make Forex...

How to find the IFSC code for your savings account

May 22, 2023

May 22, 2023

If you are looking to make a transaction using your savings account, one crucial piece of information that you will...

Finding The Best Auto Refinancing Rates

March 24, 2022

March 24, 2022

If buyers are stuck on an auto loan with a bad interest rate, you might end up paying for more...

Laugh Out Loud While Getting Spooked: Top Tamil Horror Comedies To Watch

April 18, 2023

April 18, 2023

Tamil cinema has always been recognized for its distinct blend of genres, including horror-comedy. It is one such combination that...

Is It Difficult to Use an Online Earning App for Referral Marketing?

June 6, 2023

June 6, 2023

It’s quite easy to use an online earning app to carry out referral marketing. You simply have to download the...

Solid Financial Planning Steps To Follow Before Submitting PNB Housing Loan Application

May 11, 2022

May 11, 2022

In our work-life period spanning around 2-3 decades or so for most people, one of the most crucial financial life...

How To Read Your Business Credit Report?

March 18, 2021

March 18, 2021

For every business owner, it’s a tricky phase where they have to win over the trust of their customers and...

What is the Tax Efficiency of ETFs?

August 2, 2023

August 2, 2023

Exchange Traded Funds (ETFs) are among the most cost-effective ways to diversify your portfolio and maintain adequate liquidity. The affordability and...

How to become a full-time stock trader in Singapore?

February 11, 2022

February 11, 2022

Stock trading isn’t just something you do on the side anymore. More people are profiting from market performance than ever,...

Understand what is meant by equity-based mutual funds

May 30, 2023

May 30, 2023

An equity mutual fund is a kind of mutual fund category focused on equity markets. To understand this better, you...

Comments
Leave a Reply