Chennai-based Equitas Small Finance Bank has expanded its digital banking suite by introducing a self -service facility for customers to avail FastTAG (RFID sticker) for their vehicles. For this, the bank had integrated Unified Payments Interface in its wallet PURZ.
“We plan to issue one lakh electronic toll collection tags by March 2018,” said P.N. Vasudevan, MD and CEO.
The radio frequency identification (RFID) stickers enables automatic deduction of toll charges and lets the driver pass through the toll plaza without stopping for cash transactions, a statement said.
