6, May 2023
ICICI Bank introduces auto recharge on FASTag through UPI mandate
Mumbai: ICICI Bank today announced that it has enabled FASTag auto recharge through Unified Payments Interface (UPI) mandate. The facility offers yet another option to users to recharge their FASTag automatically as per pre-defined frequency in a completely digital manner. It helps users to pass through the FASTag lane at toll plazas seamlessly and eliminates the inconvenience of not having sufficient funds in their accounts.
Users can set up the standing instructions through UPI mandate by a one-time quick and easy process. They can use the facility to recharge FASTag affixed on the vehicle or the FASTag wallet with their chosen frequency options- daily, weekly, monthly, and quarterly. They can activate and deactivate the auto recharge facility as per their convenience.
Speaking on the initiative, Mr. Sudipta Roy, Head – Credit Cards, Payment Solutions & Merchant Ecosystem, ICICI Bank said “We are delighted to introduce auto recharge facility through UPI mandate for FASTag. ICICI Bank is the first bank to offer this facility. With the government’s initiative to install FASTag in vehicles for toll fees and increased adoption of UPI payments, we believe the auto recharge facility using UPI mandate will offer more convenience to users.”