Paytm Bank: FASTag payments now available at Chennai airport parking

Digital payment brand Paytm, owned by One97 Communications, has launched FASTag payments for customers opting to park their vehicles at the Chennai International Airport.

Paytm Payments Bank Ltd has partnered with Olympia Group to offer the service to customers at the facility, a press release on Tuesday said.

As the vehicle passes the entry or exit, a sensor would read the radio-frequency identification (RFID) sticker pasted on the vehicle following which applicable charges would be automatically deducted from the user's Paytm Payments Bank Wallet or the respective bank account linked with FASTag enabled at the parking lots, the release said.

Paytm Payments Bank said it has issued more than 1.8 crore FASTags till date, and has enabled similar services at Dehradun, Pune, and Indore airports.

"The FASTag system has an efficient process for managing vehicular movement that provides a seamless experience to the passengers traveling at the airport. This is another significant step forward in enabling the Digital India initiative," Olympia Group CEO Balaji A J said.