BENGALURU: Digital payments company Paytm has processed around 1 million Fastag toll transactions in the month of November and has set a target of getting around 10 lakh vehicles with the Paytm Fastag sticker by the end of March of next year.The newly launched payments bank has partnered with National Payments Corp of India and National Highways Authority of India to facilitate these digital toll collections. It has also tied up with automobile manufacturers and dealers like Maruti, Hyundai Tata among others.RFID which stands for radio frequency identification technology will allow vehicles to travel through 380 toll plazas across 55000 kms of national highways without stopping. The toll amount will automatically get deducted from the customer’s account connected with the tag, which in this case could be a Paytm payments bank account.The bank is also running a special scheme of 7.5% of cashback for every toll payment through this process to push up adoption.“The Paytm FASTag will bring the benefits of cashless payments to every toll in India. Besides offering convenience to commuters, this will also improve transparency and overall efficiency of the country’s toll network,” said Renu Satti, chief executive officer at Paytm Payments Bank.