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Updated on: Thursday, January 06, 2022, 03:25 PM IST

Airtel Payments Bank, Park+ collaborate to offer FASTag-based smart parking solutions

The bank offers a suite of digital solutions through the Airtel Thanks app and a retail network of over 500,000 neighborhood banking points./ Representative image |

The bank offers a suite of digital solutions through the Airtel Thanks app and a retail network of over 500,000 neighborhood banking points./ Representative image |

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Airtel Payments Bank, one of the leading FASTag issuers in India, today announced a collaboration with Park+ to offer FASTag based smart parking solutions to marquee commercial and residential properties across the country.

The collaboration aims to leverage the deep distribution reach and digital payments stack of Airtel Payments Bank to digitize the Parking ecosystem using FASTag associated with the vehicle. Park+ will offer its entire suite of FASTag services including issuance, acquiring, recharge, and technology support to Airtel Payments Bank.

Park+ access control systems are installed at 1500+ societies, 30+ malls, and 150+ corporate parks across the country. Being the largest parking aggregator in the country, Park+ is capitalizing on this asset to help deploy more than 10,000 EV chargers at these locations.

The service is already operational at a South Delhi Municipal Corporation (SDMC) parking site, and will soon be made available at Aurangabad Airport and 32nd Avenue (32nd Milestone) in Gurugram.

Airtel FASTag customers will have access to innovative analytics-based solutions offered by Park+. This includes solutions like toll predictor, timely low balance alerts, and automatic recharge top-ups.

Ganesh Ananthanarayanan, COO, Airtel Payments Bank, said, “With a higher number of people preferring private vehicles to travel these days, these solutions will enable customers to save time and smoothen their travel experience.”

Amit Lakhotia, Founder and CEO, Park+ said: “FASTag has the ability to be the default wallet for the car owner.”

Praveena Rai, COO, NPCI said, “We believe the customers of Airtel Payments Bank will get a hassle-free car parking payment experience through Park+ which otherwise is a time-consuming affair. Car parking via NETC FASTAg, will not only help car-owners to save time in tendering the parking fee, but also empower them to travel safe and cashless.”

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Published on: Thursday, January 06, 2022, 03:25 PM IST
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