Regional »  Topic »  Perfect ID gears up to meet surge in FASTags demand for banks and fintechs

Perfect ID gears up to meet surge in FASTags demand for banks and fintechs


Perfect ID, India’s leading manufacturer of FASTags, is actively preparing to address the significant rise in FASTags demand triggered by the recent Reserve Bank of India (RBI) directive on a FinTech company. This surge stems from the requirement for customers to replace their existing FASTags with new ones issued by authorised banks.

Approximately 1.8 crore FASTags will need to be replaced swiftly to avoid delays and inconvenience at toll booths. This sudden increase in demand poses a challenge for FASTag manufacturers to fulfil these requirements quickly and efficiently.

Perfect ID, recognising the critical need, has proactively invested in new equipment over the past few months, expanding its FASTags production capacity by 40%. This significant investment ensures they are well-equipped to handle the surge in demand from banks and FinTech companies.

Commenting on this Satendra Singh, CEO of Syrma SGS says, “As the leading manufacturer of Fastags, we leverage ...


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