Unocoin, India’s first entrant in the Crypto space, has launched a new app feature that supports users with FASTag account top-ups and a hassle-free interstate commute.
It is for the first time Crypto is being used as a mode of payment for a service such as this one in India. Countries such as El Salvador, USA already accept bitcoin as a legal means of payment by users for various products.
For those unaware, FASTag is an electronic toll deduction system that the National Highway Authority of India is operating as a mandatory payment system to enable contactless toll payment for vehicles. The platform facilitates electronic toll deductions without the hassles of waiting in queues.
Crypto for FASTag
With this newly introduced feature, one can get smooth access to this service. The app user needs to deposit or purchase Bitcoin in the Unocoin Wallet. Furthermore, the user should buy a pre-secured FASTag sticker to avail of this facility.
With the new FASTag feature, one can choose any of the seventeen operators listed on the platform. Once selected, the user would be required to enter the vehicle registration number and FASTag top-up amount. This figure could start with a minimum payment of Rs 100 and can rise to a maximum of Rs 10,000 while ensuring that there is enough bitcoin in your account to cover it.
Moreover, no extra charge or expenses are involved while creating a FASTag. Also, one can make an unlimited amount of transactions throughout the day.
Commenting on the new service, Sathvik Vishwanath, CEO & Co-Founder, said, “In a bid to celebrate the increased usage of Crypto users on our platform, we introduced bitcoin as a new mode of payment gateway for FASTag. With this development, Unocoin aims to make the interstate travels seamless and encourage more Indians to adopt this smooth payment method for various other transactions as well”.