Business & Economy

Kotak Mahindra Bank ties up with TollPlus for providing electronic toll collection system for NHAI

NetIndian News Network

Mumbai, October 7, 2019

Kotak Mahindra Bank today said it had tied up with TollPlus for providing Electronic Toll Collection (ETC) end-to-end acquiring management system and managed services for the National Highway Authority of India (NHA) following the successful integration of 16 national highways’ toll facilities. 
The integration will be scaled up to include over 100 tolls by 2021, a press release from Kotak said.
TollPlus is a global leader in the development, implementation and maintenance of digital solutions for ETC operations and customer management, the release said.
Shekhar Bhandari, Sr. EVP & Business Head – Global Transaction Banking & Precious Metals, Kotak Mahindra Bank said, “The technology and services provided by TollPlus will facilitate the growth of digital payments at toll plazas in India and decongest national highways, thereby contributing to the decrease of gas emissions by idle time of vehicles. We are well-positioned to extend the digitised payment solutions for parking, fuel, access integration with the Port of Mumbai or electric vehicle charging.”
 Suresh Kakarla, CEO of TollPlus said, “TollPlus is thrilled to partner with Kotak Mahindra Bank in Providing ETC services to their customers. We hope that the expansion of our industry-leading back-office solution will help increase the adoption of FasTag across the country.”
“We continue to be at the forefront of using technology to offer simple, convenient and effective solutions to our customers,” added Bhandari.
Kotak’s tie-up with TollPlus is in line with the Government of India’s vision of a digital economy and Kotak’s endeavour to offer simple, convenient and effective digital solutions to customers, the release added.
NNN

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story?
and help us to serve you better.
NetIndian
www.netindian.in