In the latest move, National Highway Authority of India (NHAI) has removed Paytm Payments Bank Ltd (PPBL) from its list of authorized Fastag providers, reducing the list to 32. Post this, the authority has also advised the end users to only purchase Fastags from those banks who remain in the new list authorized list.
The deadline for the Paytm Payments bank has been extended from February 29 to March 15. Post this date, the Fastags issued by Paytm will cease to function and if the users are not able to utilize funds in Paytm accounts, then they must request for refund.
It is in the light of new implementation of One Vehicle, One Fastag initiative that the authority has deactivated the Paytm Fastags.
As per the new initiative, each Fastag can only be linked to one vehicle, or vice versa.
This also means that if one wants a new Fastag, older one has to be deactivated since users cannot complete the KYC procedures until old ones are deactivated.
The same has been reiterated in FAQ section regarding Paytm Payment Banks by RBI. Since the Fastags are not interoperable, it is important that customers close their PPBL accounts and seek refunds. Subsequently, they must obtain a new Fastag from a different bank.
How to Deactivate Your Paytm Fastag account?
Below are the steps to be followed to raise the deactivation request. The same can be done through Paytm app or Fastag Paytm Portal.
Via Paytm app:
1. Go to the Paytm app and tap on the Profile icon located in the top-left corner.
2. Select “Help & Support” and in the Under “Banking Services & Payments” choose the Fastag option.
3. Select the “Chat with us” option at the bottom and raise the deactivation request.
Via Fastag Paytm Portal:
1. Log in to the Fastag Paytm Portal. Enter your Fastag number, registered mobile number, and other necessary details for verification.
2. Scroll below and go to “Help & Support” option.
3. Click on “I Want to Close My Fastag Profile.”
Note: Since the process cannot be reversed, it also means that the one needs to buy a new Fastag once the old one is deactivated
Since you are done with the deactivation, you will need a new one from any of the 32 banks and the way to procure a new one is as listed below:
How to Get a New Fastag account?
1. Go to Google Play Store or Apple App Store and download “My FASTag” app.
2. Scroll below to find “Buy Fastag” option and click on it.
3. There shall be Amazon and Flipkart links to purchase the Fastag.
4. Tap on Activate Fastag option in the app to activate it and follow the on-screen instructions to activate.
The removal of Paytm Payments Bank from the list of authorized Fastag providers underscores the importance of ensuring compliance with regulatory initiatives such as the One Vehicle, One Fastag policy.
Hence, prudent steps should be taken to deactivate the Paytm Fastags as well as to acquire new ones from authorized banks in order to avoid any disruptions in toll payments and ensure seamless travel on national highways.
