New Delhi: For vehicle owners, FASTag recharge has become a common occurrence. Banks are developing new and simple ways to integrate user payment alternatives. In order to make FASTag recharge on instant messaging app simple, IDFC First Bank has partnered with WhatsApp.
Bank customers will be able to re-upload their FASTags through the new “Payments on WhatsApp” service. IDFC FIRST customers can recharge their FASTags directly through the IDFC FIRST WhatsApp chat program. You can perform the entire recharge process within the chat window.
IDFC FIRST Bank customers can start by simply saying “Hello” to the bank’s official WhatsApp chat program at +919555555555. Customers must enter the amount and validate the transaction using OTP when choosing the recharge option in the WhatsApp chat. They will then receive a letter confirming the transaction.
For the millions of FASTag customers who use the bank, this new feature will enable users to pay for recharge using WhatsApp Payments without having to log into any other mobile app or banking platform.
With Payments on WhatsApp, users can send and receive money from their friends in a simple way like sending a WhatsApp message through the Unified Payment Interface (UPI). For each payment, the user will need to enter a unique UPI-PIN.
Users can also access more than 25 services such as savings accounts, credit cards, loans and FASTag through IDFC FIRST Bank’s WhatsApp banking channel. FASTags purchases and recharges have recently been added to this list of services by the bank.
So far, nine million FASTAGs have been distributed by the Bank. Nearly 420 toll yards and 20 parking lots accept payments via FASTag thanks to IDFC FIRST Bank, which has a 40% market share processing monthly fee values. With a market share of 45 percent, the bank is also the largest parking picker. Users can now process payments at HPCL fuel stations using IDFC FASTag. About 19,000 HPCL sites accept it.