Five years old FASTags to be replaced, re-KYC needed after every 3 years. All you need to know

The issuer will replace all five-year-old FASTags on a best-effort basis, and the re-KYC process will be done every three years, according to new rules that have come into effect from August 1.

The new rules are focused on improving toll payment processes and easing congestion at toll booths. The National Payments Corporation of India (NPCI) has issued new guidelines, with a key update being the mandatory FASTag KYC requirements.

A look at new FASTag rules

1) Replacement of 5-Year-Old FASTags: FASTags older than five years must be replaced.

2) KYC Update for 3-Year-Old FASTags: KYC must be updated for FASTags issued 3 years ago.

3) Linking Vehicle Details: Vehicle registration number and chassis number must be linked with the FASTag.

4) New Vehicle Registration Update: Update the registration number within 90 days of purchasing a new vehicle.

5) Database Verification: FASTag providers must verify their databases.

6) Photo Upload Requirement: Upload clear photos of the car’s front and side.

7) Mobile Number Linking: FASTag must be linked to a mobile number.

Companies must adhere to NPCI mandates, which involve updating KYC for FASTags that are three to five years old and replacing those older than five years.

FASTag recharge via Paytm app

Paytm has introduced a new feature on its app, allowing users to recharge their FASTags directly through the platform. This came after the Reserve Bank of India imposed restrictions on Paytm Payments Bank Limited (PPBL) due to regulatory concerns.

With this new feature, Paytm users can easily recharge their FASTags through the app, eliminating the need to wait in long queues or face delays at toll plazas. This move is aimed at providing convenience to users amidst the regulatory scrutiny faced by PPBL.

Despite the regulatory challenges, Paytm assures users that all other services on the app, including UPI transactions, QR code payments, Soundbox, and Card Machine payments, are operating seamlessly without any interruptions.