Parking FASTag Fee Collection

FASTag Based Parking Fees Collection Proposal:
This proposal outlines the implementation of a FASTag-based Parking system that leverages technology to streamline parking operations, enhance revenue collection, and improve overall traffic management

Hurdles facing at Current Parking System:

• Existing Parking Collection Method is in Cash which is very time consuming and hectic process.
• Such kind of manual procedure leads to 50% entry errors, thus resulting in huge Revenue losses.

Customers have to wait in long queues when they need to enter and exit the parking Date: 29th June-2023 lot. Due to this, precious time of the customers is wasted and overall sustainability gets shaken.

Proposed Solution:

• Due to FASTag there may be less chance of leakage of your cash
• FASTag make it easier to maintain a track of all your expenses
• It gives the footprints of your each and every transaction
• You will be automatically notified of all the transaction and toll deduction
• Parking solutions to our customers
• FASTag enables the seamless movement of the vehicle with payments being made
  digitally. The FASTag ensures less waiting time, thereby saving time as well as fuel.

Proposed Methodology:

Infrastructure Setup:

1. Identify Parking Zones
2. Install FASTag readers and Barrier systems at entry and exit points of each parking facility.
3. Check and suggest the Internet Connectivity
4. Integrate FASTag readers with the existing Backend parking management system.

FASTag Based Payment Collection:

1. Parking Fee deduction through FASTag of the vehicle at Entry/Exit of the Parking
2. T + 1 Settlement of Collection Amount
3. Settlement and Reconciliation Reporting on daily basis.

Benefits:

• FASTag & Digital Payment collections
• Reduce Traffic Congestion
• Enhance Revenue Collection
• Improve User Experience
• Data-Driven Decision Making
• Data Points & analytics
• Adaptive to new Payment Technologies
• Convenience to Public
• Less Investment for partners