FASTag Business: If you are heading out onto the highway in your car, it is important to be aware of this update. Vehicles passing through toll plazas are required to make payments using FASTag. You will often find agents selling FASTags near these toll plazas; they facilitate the issuance of FASTags and provide recharge services. This leads many to wonder: how much income do these agents actually earn from selling FASTags? If you are curious about the potential earnings from this business, read on.
Many people assume that an agent’s income comes solely from selling new FASTags or performing recharges. In reality, however, the income is derived from a combination of sources: the sale of new FASTags, commissions received from banks, margins earned on recharges, and other related services.
How can one become a FASTag agent?
Agents operating at toll plazas generally work in one of two ways. In the first scenario, a bank or a third-party agency may employ an agent. They typically receive a monthly salary ranging from ₹12,000 to ₹18,000, with the potential for additional incentives upon meeting specific targets. Alternatively, some individuals work as freelance agents. This means they partner with banks or payment platforms to obtain an ‘agent ID’, after which they issue FASTags to customers and provide services like recharges.
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How much can one earn from selling FASTags?
When a vehicle owner gets a FASTag issued, the agent receives a commission from the bank. The exact amount of this commission depends on the vehicle category and the specific policy of the bank involved. Notably, the scope of earnings extends well beyond the initial issuance of a new FASTag. Often, when vehicles arrive at a toll plaza, drivers may find that their FASTag balance is insufficient; in such cases, they can get their FASTag recharged by an agent.
The agent earns a commission for performing these recharges.
For instance, if an agent issues FASTags for 8 cars and 4 trucks in a single day, they earn a commission of ₹70 per car FASTag and ₹100 per truck FASTag, resulting in a total daily income of ₹960. Additionally, if there is a turnover (recharge volume) of ₹20,000, the agent earns an extra ₹200 (based on a 1% margin). Consequently, an agent can earn up to ₹1,450 per day through these service charges.
What would the monthly income be?
If an agent works for 26 days a month and earns ₹1,450 each day, their total monthly income would amount to ₹37,960. It should be noted, however, that the daily income may vary and will not necessarily be the same every day.