Paytm rolled out of FASTag with RFID (radio-frequency identification expertise) expertise in India, which enabled digital toll payment assortment on highways throughout the nation again in 2017. Final week, a video posted on-line that confirmed a boy cleansing glass of a automotive that has a Paytm FASTag reveals a smartwatch scanning it.
Paytm has confirmed that the video is faux and confirmed that FASTag funds may be initiated solely by authorised retailers, onboarded after a number of rounds of testing.
NPCI added that the FASTag ecosystem is constructed on a 4 occasion mannequin together with NPCI, Acquirer Financial institution, Issuer Financial institution, and Toll Plazas. It additionally stated that FASTag makes use of a number of layers of safety protocols are positioned to make sure the end-to-end protected processing of transactions.
A video is spreading misinformation about Paytm FASTag that incorrectly reveals a smartwatch scanning FASTag. As per NETC tips, FASTag funds may be initiated solely by authorised retailers, onboarded after a number of rounds of testing. Paytm FASTag is totally protected & safe. pic.twitter.com/BmXhq07HrS
— Paytm (@Paytm) June 25, 2022
Since NETC FASTag operates just for Individual to Service provider (P2M) transactions, NPCI stated that a person can’t obtain the cash in NETC FASTag ecosystem from fraudulent transactions. Solely authorised System Integrators (SI), on behalf of concessionaires, are allowed to take part for particular plazas and provoke Fee transactions.
No transactions may be executed by way of open web connectivity. No monetary transactions may be initiated with out all of the above conditions.
Therefore, these movies circulating on Social media are baseless and False. NPCI has already taken motion to reply to these movies and delist them from the Social media platforms.