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Tuesday, January 31, 2023

In India, UPI & FASTag-Based Contactless Parking Will Be Launched: How will it Work?

Reports indicate that the National Payments Corp of India (NPCI) is planning to expand its contactless parking facility to major cities such as Mumbai, Delhi, Bengaluru, Chennai, and Thiruvananthapuram.

100% Contactless Parking Solution

According to the company’s statement on Wednesday, it is in advanced discussions with Maha-Metro to enable several stations with 100% contactless parking solutions.

Maharashtra Metro Rail Corp Ltd (Maha-Metro) was a 50:50 joint venture between the Maharashtra government and the Union government.

In association with Delhi Metro Rail Corporation Ltd (DMRC), NPCI inaugurated India’s first FASTag and unified payments interface (UPI)-based smart and cashless parking system at Kashmere Gate Metro Station.

This appears to be the first metro station parking installation. NPCI says that it is currently in discussions with other metro authorities about replicating the solution.

Enabling UPI Payments

Apart from this, NPCI has also initiated discussions with significant malls, airports, ports, railway stations, metro stations, hospitals, and other private parking lots for FASTag-powered contactless car parking solutions.

Further, the payment firm reported that central banks have been interested in spearheading the parking projects, especially after the government announced a 100% FASTag mandate.

The parking plaza would allow NETC FASTag for four-wheelers and UPI payments for all two-wheelers, said Praveena Rai, chief operating officer, NPCI.

Further, Rai added, with NETC FASTag, it’s our constant endeavor to provide seamless, cashless, and automated toll and parking payment solutions.

How Does This Help?

If we talk about the contactless car parking facility, passengers and visitors can pay without the need to roll down their windows, thus saving time and making the process more convenient.

Now, parking lots across the country are being enabled with digital payment solutions.

As per NPCI, NETC FASTag can also provide a complete contactless solution and lead to an opportunity for parking providers throughout the country to adopt a safe and secure payment solution by implementing solution.

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