Transportation is one of the most important aspects of a nation’s economy. In fact, it can be stated as the backbone of a nation’s economy. Since, transportation is considered as the backbone of economy, the more efficient the transportation is the more economically well a nation becomes. The transportation of finished goods to the market is one of the prime factors that are responsible for efficient transportation.
Since, the technology and development has taken a major part in development of every field existing currently, it has also helped transportation to develop and become more efficient. From cars to petrol pump machines, technology has been helping transportation to develop over the centuries. Technology made a huge step towards development in the field of transportation when they launched Electronic Toll Collection System. Electronic Toll Collection system, as the name suggests, is an electronic way of paying the toll instead of paying it manually, which is beneficial as it reduces toll transaction time and thereby increases the traffic flow, which helps in keeping the transportation efficient. Electronic Toll Collection system is beneficial for everyone, the toll agency, and users both. For toll agency it reduces the man labor, the maintenance cost, and it also the cash handling.
Electronic Toll Collection system saves time as one does not have to stop to pay the toll. It has also eliminated the difficulties with cash handling. Since there are ETC accounts for Electronic Toll Collection users they do not have to pay the cash on toll, it is deducted from their ETC account.
In different countries Electronic Toll Collection is known with a different name. In India, Electronic Toll System is known with FASTag. FASTag is operated by the National highway authority of India (NHAI) and it uses Radio Frequency Identification technology. It makes toll payments directly from the saving accounts or prepaid accounts of their customers. FASTag has an unlimited validity and even offered 7.5 percent cash back. The system was set up in India in the year 2014. By 1st October 2017, it was launched in all 370 toll plaza in India by National Highway Authority of India. From 1st December, 2017, it became mandatory for all new four wheelers to have FASTag devices by manufacturer or authorized dealer.
The payment for FASTag is very easy and has made it convenient for transportation department to transport goods from one place to another on time and without any difficulty in paying for toll. One does not have to pay the price at the toll as when they pass through an Electronic Toll Collection system the system recognizes the vehicle and calculate the tax through radio frequency identification, and the amount of tax is deducted from the account linked with it. The payment can be done through several methods. One can link their bank account and pay it through their bank balance. It can also be linked to a prepaid account and top ups can be done time to time. The e-commerce sites like Paytm can also be used for paying the toll tax.
