Airtel Payments Bank, Park+ tie up to launch FASTag-based smart parking solution

Airtel Payments Bank on Thursday announced a collaboration with Park+ to introduce a FASTag-based smart parking solution for commercial and residential properties across the country. The partnership aims to leverage Airtel Payments Bank’s distribution reach and digital payment stack to digitize the parking ecosystem using vehicle-linked FASTag, the company said in a statement.

Park+ works in the area of ​​automating parking spaces through FASTag and most of the parking FASTag transactions in India are currently being processed through the Park+ system. Park+ will offer its full suite of FASTag services including issuance, acquisition, recharge and technology support to Airtel Payments Bank. Airtel Payments Bank is one of the top five issuers of FASTag in the country, the statement said, adding that customers can buy FASTag in a few clicks from the banking section of Airtel `Thanks App’.

Park+ access control systems are installed in over 1,500 societies, over 30 malls and over 150 corporate parks across the country. “With parking fee payment, both the partners are working together to enable automatic cashless payment deduction from the valid FASTag attached to the vehicle. With cashless payment, visitors will save time and will not have to wait in queues to make parking payments.”