State Bank of India (SBI) has introduced a new and improved design for its FASTag device for Vehicle Class 4, which includes cars, jeeps, and vans. This new design aims to enhance vehicle identification and streamline toll collection, ultimately reducing travel times for commuters. Alongside the revamped FASTag, SBI also launched the MTS RuPay NCMC prepaid card and the OneView mobile application to offer better payment solutions and more efficient account management.
In a press release dated August 30, 2024, SBI announced the launch of the new FASTag design, which utilizes advanced technology to improve the accuracy of vehicle identification and toll collection, benefiting millions of commuters across India. FASTag is an RFID-enabled device that allows for automatic toll payments directly from a linked prepaid or savings account without requiring drivers to stop at toll plazas. The tag, which is affixed to the vehicle’s windscreen, can be purchased from authorized issuers and needs to be recharged if linked to a prepaid account.
The newly designed FASTag is specifically for Vehicle Class 4 vehicles, such as cars, jeeps, and vans. The updated design improves vehicle identification, reduces the likelihood of incorrect toll charges, and minimizes chargebacks, thereby increasing revenue for both the government and toll operators. Additionally, it facilitates faster toll payments, which helps reduce waiting times at toll plazas.
In addition to the new FASTag, SBI has introduced two other products:
– MTS RuPay NCMC prepaid card: A versatile card that supports offline payments across various transit systems, including metro rails, buses, ferries, tolls, and parking.
– OneView mobile application: A user-friendly app that enables customers to manage their NCMC prepaid cards, allowing for easy top-ups, tracking, and card management.
