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Home >Companies >News >FASTag on PhonePe crosses 1 million users, 7 million transactions

PhonePe has announced FASTag, the RFID-based system used to make payments at tolls, has crossed 1 million users with over 7 million transactions on its platform.

FASTag transactions, which were down during the lockdown due to travel restrictions, have since grown 280% relative to January 2020, the leading digital payment platform said.

PhonePe supports recharges for 19 major FASTag issuing banks.“PhonePe’s contactless and instant recharges of FASTag with zero fees, unmatched choice via PhonePe’s partnership with 19 FASTag issuing banks, with more being added as we speak and a huge reduction in waiting time at toll plazas are all clear contributors to the exponential growth this category is seeing," Ankit Gaur, director of business development at PhonePe said.

“We have seen over 400% growth in private vehicle recharges alone indicating increased intercity travel as markets beginning to open up post the lockdown," Gaur added.

How to recharge your FASTag on PhonePe

1) Select “View More" from the Recharge and Pay Bills section on the homepage

2) Select ‘FASTag Recharge"

3) Select your issuing bank

4) Enter your vehicle number and click confirm

5) Enter the amount you want to recharge your FASTag for and proceed to payments.

With over 250 million registered users, PhonePe is one of the leading digital payments in the country. PhonePe's Switch platform helps customers to place order on over 220 apps including Ola, Myntra, IRCTC, Goibibo, RedBus, Oyo directly from the mobile app. PhonePe is accepted at 13 million merchant outlets across 500 cities in the country.

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