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Axis Bank, the country’s third largest private sector bank, has launched an electronic toll collection (ETC) facility at all five entry points in Mumbai.
In partnership with MEP Infrastructure, a dedicated ‘ETC Lane’ at all five toll plazas in Mumbai will be enabled to accept cashless toll payment through radio frequency identification (RFID) tags branded as ‘FasTag’ affixed on the windshield of vehicles, Axis Bank said in a statement.
Users will now be able to cruise through the toll plazas without the hassle of stopping and paying cash, which will improve convenience and average travel time and also reduce the cash handling by toll plaza operators.
Sidharth Rath, Head -- Treasury and Transaction Banking at Axis Bank, said, “Road users will now be able to drive through the toll plazas without the hassle of stopping for paying cash using the FasTag. FasTag uses state-of-the-art technology to identify, collect and manage toll collections at plazas through the country.”
Toll plaza operators will also stand to benefit as they would not be required to handle cash and will have less stress of handling peak hour traffic congestions. Starting with Airoli Plaza from June 3, car users will be issued a RFID for their vehicles and activated on other toll plazas by July.
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