India’s homegrown Paytm Payments Bank Limited (PPBL), today announced that it has partnered with Nexus Malls, one of India’s largest real estate retail platforms, to facilitate convenient payments for car parking at their malls using FASTag. With this, users visiting the mall won’t have to wait in long queues at the parking lot, and can just pay digitally with FASTag.
The bank has enabled digital parking at multiple popular malls across the Nexus Malls portfolio under the Nexus group across the country — Nexus Forum Shantiniketan, Nexus Whitefield, Nexus Koramangala in Bengaluru, Nexus Seawoods in Mumbai, Nexus Indore Central, Treasure Island Mall in Indore, Nexus Amritsar, and Nexus Ahmedabad One. The bank is also in discussion with various stakeholders to implement similar digital payment solutions for parking areas at hospitals, airports, and various municipal corporations across several states in India.
The partnership leverages the superior expertise of Secure Parking in providing world-class parking management systems globally along with Paytm Payments Bank’s leading position and reaches as a FASTag issuer and acquirer and the vast number of consumers visiting Nexus malls across the country. The integration is being done by Secure Parking, which is a leading car parking solution provider and operator in India and manages over 200 properties, mainly leading malls, office buildings, airports, five-star hotels, exhibition centers, and public car parks.