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Paytm Payments Bank empowers FASTag users with fast redress mechanism
February 26, 2021
Helps 2.6 lakh users get refunds for wrong toll charges Paytm Payments Bank Ltd (PPBL) has announced that it has facilitated refunds for 2.6 lakh FASTag users who were charged incorrectly by toll plazas in the year 2020.
It has set up a fast redressal mechanism, which identifies incorrect deductions and raises claims to reverse the extra charges.
While FASTags ensure automatic payment of toll charges, sometimes issues with systems and processes present at the toll plaza result in deduction of more than the applicable charges.
Redressal mechanism
To expeditiously resolve all such customer complaints, PPBL has put in place a dispute management process that audits all customer complaints, associated toll transactions, and issues raised by the toll plazas.
FASTag: Paytm Payments helps 2 6 lakh users get refund for wrong toll charges livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
One 97 Communications Limited, that owns and operates digital payments firm Paytm reported its consolidated revenues for the financial year 2019-20 as Rs 3,629 crore, a 1.4 per cent increase since the last financial year. However, on a standalone basis, it reported a revenue of Rs 3,351 crore, a 1 per cent fall compared to last year. The company further reported a consolidated net loss of Rs 2,942 crore during the same fiscal. This is a 30 per cent decrease from the last financial year, showed regulatory documents sourced from business intelligence platform Tofler. The company’s total expenses for the fiscal were reported as Rs 6,226 crore on a consolidated basis.