Introducing a new rule effective 1st August 2024 for FASTag users by the National Payments Corporation of India (NPCI). Further, the toll payment and reducing traffic jams at toll plazas nationwide will be optimizing the process overall.
Mandatory KYC Updates
One of the significant updates comprises mandatory Know Your Customer (KYC) has to be linked for FASTag users. From Thursday all the customers of FASTag have to update their KYC details in accordance to the NPCI rules.
Key Updates to FASTag Rule
Replacement of 5-Year-Old FASTags
Owners will have to replace the FASTags those are older than five years to ensure they function correctly and meet the new standards.
KYC Update for 3-Year-Old FASTags
FASTags issued three years ago must have their KYC details updated. They all come with the goal of ensuring that customers’ information is up to date, or the efficiency of the total system is enhanced.
Linking Vehicle Details
All FASTags have to be linked with vehicle registration and chassis numbers. This step is crucial for accurate toll deductions and better management of toll transactions.
New Vehicle Registration Update as per FASTag Rule
Further, FASTags of new vehicles shall get a grace period of 90 days to link of the vehicle registration number. Further, it shall be the responsibility of the owner to ensure the FASTag system remains up-to-date with the latest vehicle information.
Database Verification
Further, to ensure the accuracy of customer and vehicle information, FASTag providers need to validate the database. This will help in reducing errors and improving the overall user experience.
Photo Upload Requirement
Moreover, the visual verification step requires customers to add clear photos of front and side of their car. This shall help in accurate identification of vehicles with an extra layer of security.
Mobile Number Linking
Further, as a mandate FASTags should be linked with mobile numbers. This linkage facilitates easy communication and updates related to toll transactions.
Compliance with NPCI Mandates as per new FASTag Rule
Additionally, it shall become necessary to implement the new mandates of NPCI for companies effective 1st August 2024. Updating KYC for FASTags older than five years, updating the ones upto three years, etc. are few of the necessary mandates that the companies need to abide too. These measures are part of NPCI’s efforts to ensure a seamless and efficient toll payment system across India.
