New FASTag Rules Comes Into Effect: What to Do About Your 5-Year-Old Tags!
The issuer will now replace all FASTags older than five years on a best-effort basis, and the re-KYC process will be conducted every three years, according to new regulations that came into effect on August 1. These rules aim to enhance toll payment efficiency and reduce congestion at toll booths. The National Payments Corporation of India (NPCI) has issued updated guidelines, with a significant focus on mandatory FASTag KYC requirements.
Key Updates to FASTag Regulations
- Replacement of 5-Year-Old FASTags: FASTags that are older than five years must be replaced.
- KYC Update for 3-Year-Old FASTags: KYC must be updated for FASTags that were issued three years ago.
- Linking Vehicle Details: The vehicle registration number and chassis number must be linked with the FASTag.
- New Vehicle Registration Update: The registration number must be updated within 90 days of purchasing a new vehicle.
- Database Verification: FASTag providers are required to verify their databases.
- Photo Upload Requirement: Clear photos of the car’s front and side must be uploaded.
- Mobile Number Linking: The FASTag must be linked to a mobile number.
Companies must adhere to NPCI mandates, which include updating KYC for FASTags that are three to five years old and replacing those older than five years.
FASTag Recharge via Paytm App
Paytm has introduced a new feature on its app, enabling users to recharge their FASTags directly through the platform. This development follows restrictions imposed by the Reserve Bank of India on Paytm Payments Bank Limited (PPBL) due to regulatory concerns.
This new feature allows Paytm users to conveniently recharge their FASTags via the app, eliminating the need to wait in long queues or face delays at toll plazas. Despite the regulatory scrutiny, Paytm assures users that all other services on the app, including UPI transactions, QR code payments, Soundbox, and Card Machine payments, continue to operate seamlessly without any interruptions.
