The Hindustan Petroleum Corporation Limited (HPCL) has tied up with the IDFC FIRST Bank to facilitate fuel payments at the retail outlets of HPCL using the latter’s FASTags.
Moreover, IDFC FIRST Bank’s FASTags can now be purchased, recharged, and replaced by personal vehicle users at HPCL retail outlets too.
This collaboration is set to make the entire process of purchasing and recharging FASTags relatively easier for about five million motorists.
The senior management of both HPCL and IDFC FIRST Bank attended an event conducted to commemorate this partnership in Mumbai.
“As a digital-first bank, our effort is to make all transit-related payments simpler. IDFC FIRST Bank has issued close to five million FASTags and these tags are used actively by motorists across toll plazas with transactions averaging two million a day,” IDFC FIRST Bank COO B Madhavan was quoted in a report by the Financial Express.
He added, “The partnership with HPCL gives our customers the ability to pay for fuel by using FASTag. Motorists now have the convenience of a single form factor and single balance for payments related to road travel in the form of FASTag.”
IDFC FIRST Bank had introduced fuel payments through FASTags at the HPCL retail outlets for commercial vehicle users last year. Positive feedback from that move has encouraged them to extend this facility to personal vehicle users as well.