FASTag has emerged as a revolutionary fintech product that has significantly transformed the way payments are made at various touchpoints. We at Barrel Scope believe that FASTag can be expanded beyond toll plazas to automate and digitize payments in several other domains such as fuel stations, parking lots, drive-throughs, traffic violations, and access control systems.
In parking lots, FASTag facilitates seamless entry and exit without the need for physical tickets or cash payments. Users can utilize their FASTag for contactless payments and access control. As a vehicle approaches the entry gate, the FASTag is scanned, and an entry ticket with vehicle image and timestamp is created automatically. Upon leaving the parking lot, the system deducts the appropriate amount from the linked FASTag account. In case the FASTag does not have sufficient funds, the POS machines allow digital fee collection through UPI or QR Code. This digitized process not only plugs cash leakage thereby enhancing efficiency but also provides a hassle-free experience for users.
FASTag simplifies the drive-through experience at restaurants, fast-food chains, and other establishments. By integrating FASTag with ordering systems, customers can place their orders in advance through an app or a digital interface. When the vehicle arrives at the drive-through window, the FASTag is scanned, and the payment is automatically deducted. This eliminates the need for cash transactions or card swipes, reducing wait times and enhancing the overall customer experience.
FASTag technology can be utilized to automate the payment of traffic violation fines. By integrating FASTag with traffic monitoring systems, vehicles that violate traffic rules can be identified through license plate recognition. The fine amount is then automatically deducted from the violator's FASTag-linked account. This not only simplifies the payment process but also helps in enforcing traffic rules and maintaining road safety.
FASTag can also be leveraged to automate access control at gated communities, office premises, or any location where restricted entry is required. By affixing a FASTag sticker on the vehicle, residents or employees can gain seamless access through dedicated FASTag lanes. The system automatically verifies the FASTag and grants or denies entry based on the authorization status linked to the vehicle's tag. This enhances security, reduces manual intervention, and provides a convenient access management solution.
Automatic Number Plate Recognition (ANPR) technology utilizes optical character recognition and image analysis to automatically read and interpret license plate numbers.
When ANPR is combined with FASTag, the process becomes even more streamlined.
As a vehicle approaches the access point, the ANPR camera captures an image of the license plate and extracts the license plate number. Simultaneously, the FASTag on the vehicle is scanned, which provides additional information such as vehicle details and payment status.
The integration of ANPR and FASTag allows for real-time monitoring and tracking of vehicles. The system can generate reports and analytics based on entry and exit data, providing valuable insights for managing parking spaces, traffic flow, and optimizing operations.
