published on www.ibsintelligence.com
Indian private sector lender Kotak Mahindra Bank said on Monday that it has partnered with TollPlus to provide Electronic Toll Collection (ETC) end-to-end acquiring management system and managed services, following the successful integration of 16 national highways’ toll facilities.
The integration will be scaled up to include over 100 tolls by 2021, it said in a statement.
“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 (the) 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,” said Shekhar Bhandari, Sr. EVP & Business Head – Global Transaction Banking & Precious Metals, Kotak Mahindra Bank.
“We continue to be at the forefront of using technology to offer simple, convenient and effective solutions to our customers,” Bhandari said.
TollPlus works in developing, implementation and maintenance of digital solutions for ETC operations and customer management. Its marquee product ToP-BOS™, provides Back Office Systems (BOS) focused on accuracy and accountability, processing extremely high transaction volumes. It has offices in Arizona, Texas, Hyderabad, and Bangalore.
“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,” said Suresh Kakarla, CEO of TollPlus.
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