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To use this facility, customers must inform the pump attendant, who would then scan the vehicle's FASTag or car number plate
In a first in the country, more than 3,000 Indian Oil petrol pumps across the country are accepting FASTag payment. All Indian Oil pumps are now accepting the payment from ICICI Bank’s FASTag. Indian Oil and ICICI Bank have joined hands for this special facility. Under this, you will be able to make cashless and contactless payments at all petrol pumps of Indian Oil. ICICI Bank FASTag users will be able to have a completely digital experience at Indian Oil petrol pumps. Both diesel and petrol can be bought directly through FASTag.
Joining hands
This system is integrated with Indian Oil’s automation system which removes any manual intervention during the fuelling process.
Other banks will be integrated into the system very soon, said Indian Oil officials.
“The launch of Indian Oil ICICI Bank FASTag Payments is a significant leap to strengthen the aspirations of Digital India as Indian Oil and ICICI Bank join hands with FASTag to provide an enhanced fuelling experience for customers,” said Shrikant Madhav Vaidya, chairman, Indian Oil Corporation.
To use this facility, customers must inform the pump attendant, who would then scan the vehicle’s FASTag or car number plate. The customer will then receive an OTP to validate the transaction.
The person needs to validate the transaction by keying in the OTP. Transaction will be completed when the OTP is entered in the POS machine and customer will receive a confirmation message from the bank, said the statement from Indian Oil.
Government initiative
In January last year, the central government launched this initiative to speed up contactless and technology driven payment method.
Three state-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum have signed MoUs for FASTag related payments in petrol pumps. Indian Oil is the first company to introduce it.
National Highways Authority of India (NHAI) is working on various plans to make FASTag as a base for transactions to buy petrol and pay parking fees.
Currently, FASTag is being issued by certified banks through limited channels such as point-of-sale at NH toll plazas, online, and selected bank branches, etc.
FASTags are currently operational at over 550 toll plazas along the national highways and select state toll plazas.