Its Contributions to India’s Toll Payment System Recognized
FinTech BizNews Service
Mumbai, September 4, 2024: Perfect ID, a Syrma SGS Technology Limited company, is thrilled to announce that it has been recently recognized at the Global Fintech Fest 2024 for its contributions as a trusted partner to the National Payments Corporation of India (NPCI) and the National Highways Authority of India (NHAI). The Perfect ID team was honored to receive the award from Mr. Giridhar G. M., Chief of Offline Products Operation & Technology, NPCI.
Perfect ID has played a significant role in the design, prototyping and commercialisation of an innovative new FASTag design for cars which will bring about significant improvement in vehicle identification at Toll Booths. By focussing on leading edge manufacturing of FASTags and building partnerships with banks, Perfect ID continues to advance the digitalization of the country’s highway infrastructure, revolutionizing toll payments, and driving innovation and efficiency nationwide.
“As the largest and most modern manufacturer of RFID Tags, Perfect ID considers it its duty to push the research and development frontier forward continually in the RFID industry. It has had a key role in the Government of India’s electronic toll collection initiative on the national and state highways for the last 7 years. This has made travel convenient for millions of road users. We are working closely with various private government and private agencies to create products which will solve problems in Business and Governance,” says CEO, RFID Business, Syrma SGS Technology.
FASTags are UHF RFID tags used to collect toll payments directly from vehicles passing toll plazas across highways in India. They are small tags that are affixed to the windshields of vehicles. Using ultra-high frequency (UHF) RFID technology, AVI systems can detect and authenticate vehicles from a long distance due to their long read ranges.
