Hindustan Petroleum Corporation Limited (HPCL) Partnering with IDFC First Bank to Enable Fuel Payments Through FASTag Card

Banks act as issuers and buyers in the FASTag . digital payment ecosystem

State-run refinery Hindustan Petroleum Corporation Limited (HPCL) has signed an agreement with IDFC FIRST Bank to assist motorists to pay for fuel at HPCL retail points with a FASTags card, according to a statement. company’s recent.

As part of the initiative, IDFC FIRST Bank’s FASTags cards can also be purchased, recharged and replaced by passenger transport users at selected HPCL retail locations. This makes the purchase and use of the card convenient for the approximately five million motorists who use the IDFC FIRST FAST Card at HPCL retail locations, according to the statement.

Until now, the FAST card was only used to pay toll fees. Last year, IDFC Bank FIRST was the first to introduce FASTag balance fuel payments to commercial vehicle users at HPCL retail outlets, through DriveTrack Plus POS terminals. This facility was later extended to include private vehicle users.

Personal vehicle users can now start using IDFC FIRST Bank’s FASTags card to buy fuel at HPCL retail locations and earn bonus points. Payments with FASTag balance can now be made by linking FASTag with the “HP Pay” mobile app.

” IDFC FIRST has issued nearly five million FASTags cards and these cards are actively used by motorists across toll booths with an average transaction of two million cards a day. The partnership with HPCL gives our customers the ability to pay for fuel using FASTag. Motorists now have the convenience of a single form factor and single balance for road-related payments in the form of FASTag, ” B Madhivanan, CEO, Bank IDFC FIRST row said.

The FASTag scheme is co-initiated by the National Highways Authority of India (NHAI), Highways Authority of India Limited (IHMCL), as well as the National Payments Corporation of India (NPCI). as a means of accepting tolls on all highways and squares.

Banks act as both issuers and buyers in this digital payments ecosystem, which processes nearly seven million transactions per day. FAST cards are accepted on all selected state highways and toll stations.