Money & Banking

ICICI Bank, PhonePe partner to issue FASTag

Our Bureau Mumbai | Updated on April 08, 2021

PhonePe users would now get a fully digitised experience; wouldn’t have to visit physical stores, toll locations to buy a FASTag

Private sector lender ICICI Bank and digital payments platform PhonePe have partnered to issue FASTag using UPI on the PhonePe App.

“This integration allows over 28 crore registered PhonePe users to order and track the ICICI Bank FASTag conveniently on the app,” the companies said in a statement on Thursday.

Also read: Retail payments: Half-a-dozen consortiums set to apply for NUE licence

PhonePe users, who may be customers of any bank, will have a fully digitised experience as they don’t have to visit physical stores or toll locations to buy a FASTag. ICICI Bank is the first bank to partner with PhonePe for the issuance of FASTag.

Published on April 01, 2021

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