Paytm Payments Bank Ltd (PPBL) has announced that it facilitated refunds for 2.6 lakh FASTag users who were charged "incorrectly" by toll plazas last year. The digital payments company has set up a fast redressal mechanism that identifies incorrect deductions, following which the refund process gets initiated. Paytm, in a statement, said that it wants to assure FASTag users in resolving issues faced at toll plazas. The company adds that it has also pursued FASTag-related disputes at multiple stages, aiding 82 percent of cases on behalf of its users.
Paytm Payment Bank explains that while FASTags ensure automatic payment of toll charges, sometimes issues with systems at the toll plaza result in the deduction of more money than the applicable charges. To address this issue, the company has set up a dispute management system that "thoroughly audits" all customer complaints, associated with toll transactions. Speaking more over the development, Satish Gupta, managing director and chief officer at PPBL said in the statement that the payments company monitors money charged at toll plazas.
"We continuously strive to ensure that customers are always charged the correct toll amount and our teams remain vigilant against the unjustified charging at every step. The innovations that we have made in technology and the deep trust in our bank has helped us become the leading issuer of FASTags in the country," he adds in the statement.
Paytm launched FASTag in December 2017 after the government mandated the electronic toll collection system on each commercial vehicle. Recently, the government announced that FASTag is a must for their car in order to cross toll plaza's across national highways. The deadline was set for February 15 that was extended from the previous January 1, 2021 deadline. The electronic tags are meant to enable contactless toll payments across national highways in the country and can be issued via multiple banks including HDFC Bank, Axis Bank, ICICI Bank, Kotak Bank, and IDFC First Bank, to name a few. FASTag payments option has already been enabled at more than 720 toll plazas on national highways across India.