Paytm Introduces HDFC FASTag Purchase Option Amid RBI Restrictions

Paytm enables direct FASTag purchases from HDFC Bank amid RBI restrictions on Paytm Payments Bank.

  • Paytm enables direct FASTag purchases from HDFC Bank amid RBI restrictions on Paytm Payments Bank.
  • Users can recharge existing FASTags or buy new ones seamlessly through the Paytm app.
  • Step-by-step process provided for recharging FASTags and purchasing HDFC FASTags via Paytm.

Amid regulatory constraints imposed by the Reserve Bank of India (RBI) on Paytm Payments Bank Ltd (PPBL), Paytm has rolled out a new feature allowing users to purchase FASTags directly from HDFC Bank through its app. This move comes in response to the RBI’s directive to halt onboarding new customers and restrict fresh deposits into PPBL, affecting services such as FASTag recharges for existing users.

In line with the National Highways Authority of India’s (NHAI) recommendation for Paytm FASTag users to switch to a different bank’s FASTag before March 15, 2024, Paytm now offers a seamless option to procure HDFC FASTags. Users can also recharge their existing FASTags hassle-free using the Paytm app, ensuring smooth toll payments for their vehicles.

To recharge a FASTag, users can navigate to the ‘FASTag Recharge’ option within the ‘Bill Payments’ section of the Paytm app, select the issuing bank, enter vehicle details, and proceed with the recharge amount. Meanwhile, those opting to purchase HDFC FASTags can simply search for ‘Buy HDFC FASTag’ on the app, provide necessary customer and vehicle details, make the payment, and have the FASTag delivered to their doorstep. Despite the regulatory challenges, Paytm assures users that essential services like UPI transactions and QR code payments continue to operate without disruptions.