Paytm Payments Bank empowers FASTag users with fast redressal mechanism

• Paytm Payments Bank empowers FASTag users with fast redressal mechanism; helps 2.6 lakh users get refund for wrong toll charges
• Helped users get a quick refund for wrong toll-charges because of misidentification of the vehicle or double charging by toll plazas
• Automated dispute management process identifies incorrect deductions and immediately raises claims to reverse the extra charges
• Has won 82% of all dispute cases raised on behalf of PPBL FASTag users with toll plazas in the year 2020

Hyderabad, 24 Feb. 2021: India's homegrown Paytm Payments Bank Ltd (PPBL) today announced that it has facilitated refunds for 2.6 lakh FASTag users who were charged incorrectly by toll plazas in the year 2020. It has set up a fast redressal mechanism, which identifies incorrect deductions and immediately raises claims to reverse the extra charges. This reaffirms Paytm Payments Bank as the most customer-centric bank when it comes to empowering FASTag users in resolving issues faced at toll plazas.

While FASTags ensure automatic payment of toll charges, sometimes issues with systems & processes present at the toll plaza result in deduction of more than the applicable charges. To expeditiously resolve all such customer complaints, PPBL has put in place a meticulous dispute management process that thoroughly audits all customer complaints, associated toll transactions, and issues raised by the toll plazas. Ensuring that users are not inconvenienced, PPBL has diligently pursued all such disputes through multiple stages, winning 82% of cases on behalf of its FASTag users.

Satish Gupta, MD & CEO - Paytm Payments Bank Ltd said, "It has been our endeavour to empower our users with seamless & hassle-free travel on road. In this quest, we support our users in every possible way, including fast redressal of any grievance they face with toll plazas. We continuously strive to ensure that customers are always charged the correct toll amount and our teams remain vigilant against the unjustified charging at every step. The innovations that we have made in technology and the deep trust in our bank has helped us become the leading issuer of FASTags in the country. We aim to expand our services across the length & breadth of the country and contribute towards building fully digital journeys on highways."

Paytm Payments Bank is the top issuer and the largest acquiring bank under the National Electronic Toll Collection (NETC) program. In a class-leading measure, PPBL has ensured that PPBL FASTags can be purchased within minutes by only providing the vehicle registration number along with a registration certificate. Further, PPBL's customers do not need to maintain any separate FASTag accounts and login credentials. Toll payments are auto-debited from the user's Paytm Wallet which can be recharged easily. Also, customers can monitor FASTags affixed to multiple vehicles and their related transactions on the Paytm app itself.