Jio Payments Bank Secures Major Contract for Next-Gen Tolling
Jio Payments Bank, a subsidiary of Jio Financial Services, has secured a contract for FASTag MLFF toll collection at two toll plazas. This marks its entry into electronic tolling systems, expanding its role in digital payment infrastructure. The bank aims to enhance mobility ecosystem participation through digital advancements.
- Country:
- India
Jio Financial Services announced that its subsidiary, Jio Payments Bank, has clinched a pivotal contract to manage the FASTag-based Automatic Number Plate Recognition (ANPR) system at two toll plazas located on the Gurugram-Jaipur route.
This contract marks a significant expansion into next-generation tolling services for Jio Payments Bank, as they enter the electronic toll collection domain that streamlines toll payment systems without physical booths.
According to the regulatory filing, this achievement showcases JPBL's competitive edge, securing two out of five MLFF bids, and reinforcing its foothold in India's digital toll infrastructure realm.
(With inputs from agencies.)
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