Karur Vysya Bank has launched three technology services, namely FASTags, UPI app, Bharat Bill Payment System, for the benefit of customers. Out of this three, FASTag was launched in association with Indian Highways Management Company, a subsidiary of National Highway Authority of India, wherein pre loaded tags affixed to vehicles help them move on without having to join queues at toll plazas and handing cash for payment. FASTags can be pre-loaded with amounts and the toll amount will automatically be debited by the toll plazas through sensors. The second service, United Payments Interface (UPI) is a mobile app that helps customers to transfer funds inter-bank, 24 X 7 through their smartphones. The third one is Bharat Bill Payment System (BBPS), a facility offered through NPCI where in customers can make utility bill payments like electricity, water, gas, DTH and telecom services through a single utility, instead of accessing multiple sites.
Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.