Between 14% and 16% of all tolls collected at the national highways are currently being done through the National Electronic Toll Collection (NETC), Dilip Asbe, chief operating officer at National Payments Corporation of India (NPCI), said on Thursday
Between 14% and 16% of all tolls collected at the national highways are currently being done through the National Electronic Toll Collection (NETC), Dilip Asbe, chief operating officer at National Payments Corporation of India (NPCI), said on Thursday. NETC, an electronic toll collection system, was launched on a pilot basis at some toll plazas three months ago. Asbe said the system has been clocking around six to seven million transactions a month. “We have a couple of leads from the state highways as well. That is also in the process of identification,” he said.
The project is still in a pilot stage and will be launched next month. Asbe was speaking at an event to announce the launch of payments based on the Unified Payments Interface (UPI) channel on Samsung Pay, the month-old payments app offered by the multinational electronics manufacturer on some of its devices. On March 22, Samsung Pay had been launched with enablements to make contact-less payments at point-of-sale (PoS) terminals using debit and credit cards as well as Paytm wallets.
Customers of seven banks can use the card payment service and that covers 91% of all outstanding credit cards, according to Sanjay Razdan, director for Samsung Pay business at Samsung India.
UPI on the app will support both near field communication (NFC) and magnetic secure transmission (MST) modes of making payments. While NFC has so far found limited acceptance in India, most PoS machines in use in the country are enabled to accept payments through the MST mode. As such, none of them will require fresh upgrades.
“MST is our unique differentiation, through which you will be able to pay at each and every terminal which exists in the country. You also have the added advantage of paying through NFC wherever it is available,” Razdan said. The Samsung Pay app is available on 11 of Samsung’s smartphone models and the facility is enabled on its Gear brand of watches as well. Asbe said UPI has found over five million unique users in the last six months and the value of transactions is now more than `Rs 2,500 crore a month.