Fewer use cases take toll on Fastag growth

Fastag, the modern electronic payment system for vehicle owners and the entire travel ecosystem, is stagnating, with almost negligible growth in the last financial year. Even the number of transactions and banks going live on the payment method remained sluggish during the year.

Lack of evolution of new use cases for Fastag, beyond toll payments, is one of the key factors hindering its growth, said people in the know.

“Toll payments are undertaken by consumers only that many times in a month or a year, and even for commercial vehicles, almost the…