 

 

institution.

 

Instant card issuance and management welcome kit

GPRS/PSTN POS terminals such as procurement and terminal application development
Field services to deploy and manage POS terminals with merchants and vendors
Switching and other transaction processing services

Call center services

Hosted Network Access Control services

Service
Offerings

 

Issues and Restricted to a particular target customer base
Challenges e Requires independent merchant infrastructure

 

 

 

Note: POS Solutions (PSTN/GPRS) refers to both wired (PSTN) and wireless forms (GPRS). These terminals are equipped with clear
display, backlit keypad and lateral keys, making them ideal for the retail environment.
Source: India Payment Services Market Outlook to 2026, Ken Research, August 2021.

National Electronic Toll Collection (NETC) Program-FASTAG

FASTag is a device that employs RFID technology for making toll payments directly while a vehicle is in
motion. A FASTag (RFID tag) is affixed to the windshield of the vehicle and enables a customer to make the
toll payments directly from the account linked to the FASTag. FASTag allows cashless payment and provides.
benefits such as savings on fuel and time, as the customer does not have to stop at the toll plaza. For the Gol, it
offers live monitoring of toll plazas, to have a more realistic forecast of traffic. As of July 2021, the number of
FASTag users in India reached 236.3 million, registering a growth of 400% in a year, and triple digit percentage
growth since inception. More than 90% of total toll collection is being executed through FASTag, showcasing
the rapid success in digitizing toll payments across the nation

Along with toll payments, FASTags are now being used for payments at fuel pumps and parking lots. With a
very high and rapidly increasing adoption rate, FASTag is a ripe candidate for acting as a catalyst for significant
growth in the digital payments space for a wide variety of services associated with the automobile ecosystem.

Number of FASTags issued between 2017-2021 (% in millions)

 

 

4 367.8% 36 400%
350%
3 300% oS
230.7% 250%
2 18 200% = §
107.3% 5
150% = &
1 100%
5
04 = L 0%

Till July FY2017 Till July FY2018 Till July FY2019 Till July FY2020 Till FY2021

mms Number of FASTags issued === Growth Rate

Source: India Payment Services Market Outlook to 2026, Ken Research, August 2021.

148
