Paytm Bank partners with Ola, Uber for FASTags to 1 lakh

Paytm Payments Bank (PPB) on Friday announced it has entered into a strategic partnership with ride-hailing companies Ola and Uber. The tie-ups would empower over one lakh driver-partners to conveniently use Paytm FASTags and seamlessly commute across the country, the PPB said in a press statement. PPB has set up 12 camps at Uber Green zones across different cities for drivers to purchase and use FASTags.

It is also working with Ola at Bengaluru airport and other local locations including Indira Nagar, Devanahalli, and Electronic City transport hubs to accelerate the adoption of electronic toll payments in India, the statement said. Paytm FASTag doesn't require any separate prepaid account to be created, PPB said. The money for toll payments gets auto-debited from Paytm Wallet and the balance can also be used for shopping, recharges, bill payments, among other services.