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FASTag smartwatch scam video is fake; confirms Paytm and NPCI

Highlights

  • The FASTag smartwatch video is completely fake clarifies Paytm and NPCI
  • Paytm and NPCI also assured that the FASTag technology is safe and secure
  • The FASTag technology can not be compromised

A video has gone viral on the internet stating that FASTag technology, which operates with a specific sticker on cars and scanners at toll booths, is vulnerable. According to the viral video spreading on the internet, some street urchins are utilizing a smartwatch with an inbuilt scanner that can detect FASTag stickers on cars. After that, the video shows money debited from the FASTag account, linked to users’ banks or e-wallets such as Paytm. While this video has gone viral on the internet, now experts are claiming that it is fake and it is not possible to deduct money from FASTag through this process.

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Paytm and NPCI have also cleared the stance in regards to this video and said that it is completely fake. They have added that only approved merchants can collect the toll money. The FASTag is a prepaid rechargeable tag installed on vehicles for electronic toll collection, eliminating the need for human intervention. It was launched in 2017 and is presently used across India by 23 banks regulated by the NPCI (National Payment Corporation of India) and NHAI (National Highway Authority of India).

What was shown in the FASTag viral video?

The video was shot inside a car and portrayed a small boy wiping the glass. After cleaning, the kid begins to go, and the person filming the video calls him and inquires why he is not asking for the cleaning service. He then questions the child about his watch, and the boy runs. One of the men goes after him. However, the chase was a failure.

The man behind the camera discusses the alleged FASTag fraud. He says that scammers give smartwatches to children to cheat the FASTag RFID system under the guise of washing cars. The watch will scan the FASTag and deduct money from the account associated with the car.

Paytm and NPCI declares the video as fake

Paytm confirmed on their Twitter handle that the video is fake and the FASTag technology can not be compromised. “A video showing a smartwatch scanning FASTag is spreading disinformation regarding Paytm FASTag. The FASTag payments can only be made by authorized merchants who have passed many rounds of testing, according to NETC [National Electronic Toll Collection]. Paytm FASTag is absolutely safe and protected,” Paytm stated on Twitter.

The NPCI has also published a statement, calling the claims “baseless.” As per NPCI, the FASTag ecosystem is constructed on a four-party paradigm that includes NPCI, Issuer Bank, Acquirer Bank, and Toll Plazas. It was also said that FASTag employs numerous security procedures to assure safe end-to-end transaction processing.

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