1. What is FASTag?
FASTag is also commonly known as electronic toll collection system, and it was first initiated in India in the year 2014. FASTag can be defined as a kind of radio frequency identification (RFID) tag. It is used by the government to provide relaxation to all the drivers. For that to happen, the government has installed electronic toll connections on the toll plaza lane in the national highways. This has helped a lot of drivers in saving their time and fuel by avoiding those long queues. This has also saved them from the worries of carrying money all the time since you can quickly recharge your tag and that will be enough for the toll plaza reader to consider.
2. How to become a FASTag Agent?
A common query among the masses is how to become FASTag agent? The criteria for one to become a FASTag agent or retailer is quite easy. The applicant needs to have, 1) Basic working knowledge of computers is essential for one to become Fastag Agent. This is important since you will have to make online transactions, make recharges, and also keep a check of all the transactions. 2) If a person wants to become Fastag Agent, he/she should have his/her computer, Biometric Device and a printer. These are the primary requirements for a FASTag agent. Only if you have them, you will be able to carry out the tasks of a FASTag agent. 3) For one to become a FASTag agent, he/she needs to invest a minimum amount of Rs. 50,000.
3. Who can become a FASTag Agent?
Any person who is interested in working on the field and has a vast social network and has the reach to a lot of people can become a FASTag agent. However, the priority of providing FASTag dealerships is given to those applicants who are already RTO agents, car dealers or transporters. There are certain documents required for FASTag agent registration, such as ID proof which can be a driving license, PAN card, Passport and Aadhaar card. An applicant is required to submit the following necessary documents along with the application for FASTag agent registration: The original Registration Certificate (RC) of the vehicle you want the FASTag tag. It would be best if you carried a passport size photograph of the vehicle owner for identification purposes. KYC documents. The KYC documents vary as per the category of vehicle, i.e. individual and corporate. After you submit your application, an account is created on the FASTag Online portal of the issuer agency. An applicant can register himself as a FASTag agent by doing a FASTag agent login. After logging in, you can generate a unique User ID and password. There is also the availability of customer services that are always there to help you out in case you have any doubts or if you face any problem with the login or your account activity.
4. What are the benefits of using FASTag?
NHAI operates FASTag, and since the implementation of FASTag program on the National Highways toll plaza, the transportation efficiency has increased multifold. This change has also ensured a faster turnaround for the movement of goods and travellers passing by. FASTag comes with several benefits, such as; • Saves Fuel and Time It saves fuel and time by cutting down the time spent in the toll plaza. The tag reader can easily recognize a vehicle with the FASTag tag and therefore, they don't have to stop at the toll plaza for the cash transaction. Therefore, saving both time and fuel. • SMS alerts for transactions FASTag users can keep track of all the transactions since they get all the updates on their registered mobile number via SMS alerts. Since everything is available on their mobile phone, they don't have to keep track of everything. Everything is just a click away. • Online recharge FASTag users can quickly recharge their tag accounts through online recharge via debit cards, credit cards, NEFT, or Net Banking. The process of online recharge is as easy as doing your mobile recharge. There are no hassles, and it is easy to understand the process. • No need to carry cash It saves you from standing in the long queues at the toll plaza, and FASTag users don't have to carry cash with them for making toll payments. Taking cash can be a little hectic, with FASTag you have to make a prepaid recharge, and you are good to go as long as you have money in your account. • Web portal for customers FASTag makes it easier for its users to access their statement by merely logging in to the FASTag customer portal.
5. How to recharge a FASTag account?
There are various options for recharging your FASTag account. Cheque/Credit card/debit card/NEFT or Net Banking can be used to recharge FASTag accounts. The maximum recharge is of Rs. 1,00,000. The process of recharge might differ from issuer to issuer. Therefore, it is recommended to follow the steps mentioned on the website of the respective issuing agency. The recharge process is simpler if done through the official app.
6. How does Payworld India commission structure work for FASTag retailers?
Whenever a customer uses Payworld service through the FASTag retailer, the FASTag retailer makes a profit by earning a percentage of the transaction. Payworld has a unique commission structure for all the services it offers. For example, a customer asks for a recharge of Rs. 100. Payworld provides the FASTag agent commission of approximately 0.5%-3% on all the mobile recharges. Therefore, a FASTag retailer will earn 50 paise to 3 rupees on every single transaction. To put it simply, higher the number of transactions done, higher will be the FASTag agent commission earned.
7. Tell me more about Payworld.
Payworld started off with an objective to provide a safe and user friendly platform for the countless customers that comprise the Semi Urban India. Payworld has established itself as a pioneering financial service program & having started its operations in 2006, this Fintech firm has established its profile with an outstanding network of over 250,000 retailers. Covering 630 of the 739 zones in India, the Payworld network is unmatched in the country. As imposing as the network may seem, the bouquet of services on offer by Payworld is much more wonderful. From Mobile phone & DTH Recharge to Insurance, Loans & Mutual Funds; from BBPS Bill expenses to AEPS and domestic money remittances; it handles the entire gamut of financial services a semi urban Indian might demand. Another feather in the cap of the organization is the fact that their network of more than 50,000 BC agents, treated as essential service providers in these tough times, are keeping the financial demands of the residents of India accomplished. Providing a staggering 25 million consumers in such trying times in an uninterrupted manner is a huge achievement in itself. Having pride in offering their countrymen, the team is fully dedicated to supply services wherever required.