Bengaluru, NFAPost: ICICI Bank, on May 4th, 2023, announced the launch of its new feature, which enables FASTag auto-recharge through the Unified Payments Interface (UPI) mandate. This facility is the first of its kind in the industry and offers a completely digital and hassle-free way for users to recharge their FASTag automatically as per their preferred frequency. The bank’s new offering aims to eliminate the inconvenience caused by insufficient funds in accounts, allowing users to pass through the FASTag lane at toll plazas with ease.
The standing instructions for auto-recharge on UPI can be set up through a simple one-time process. Users can recharge their FASTag affixed on their vehicle or the FASTag wallet with the chosen frequency options of daily, weekly, monthly, and quarterly. The auto-recharge feature can be activated or deactivated at any time, providing flexibility to the users.
Mr Sudipta Roy, Head Of Credit Cards, Payment Solutions & Merchant Ecosystem, ICICI Bank, expressed his delight over the initiative and stated that the auto-recharge facility through UPI mandate for FASTag is a first-of-its-kind feature, which ICICI Bank is offering. With the increased adoption of UPI payments and the government’s initiative to install FASTag in vehicles for toll fees, the auto-recharge facility using the UPI mandate is expected to offer more convenience to users.
Users can set up the UPI mandate and recharge the FASTag automatically with a few simple steps:
- Login to ICICI Bank FASTag customer portal
https://fastaglogin.icicibank.com/CUSTLOGIN/Default.aspx - Select ‘Payments’ > Standing Instructions for UPI’ from the top menu
- Enter details like ‘Payment Frequency’, ‘Virtual Payment Address (VPA)’, ‘Top-up Amount’ and ‘Start Date’ to set ‘Standing Instructions through UPI’
- Go to the UPI Mandate section in the mobile banking app to accept the authorisation request
- Accept the pre-debit notification sent from the mobile banking app 24 hours prior to the amount deduction
- UPI Mandate will be triggered and the amount will be deducted from the customer’s account with any bank on the scheduled date
Customers of ICICI Bank can avail FASTag using the Bank’s digital channels such as internet banking, iMobile Pay app, InstaBIZ app, Pockets app or by visiting the nearest branch. Customers of other banks can also purchase the FASTag from ICICI Bank by visiting the bank’s website (www.icicibank.com/fastag), ICICI Bank FASTag sales office at the toll plazas. Users can reload money on FASTag online using UPI and NEFT platforms.
