New Delhi, Feb 28: Indian Railway Catering and Tourism Corporation(IRCTC) has launched its much-awaited own passenger-friendly payment aggregator system called "IRCTC iPay” which will help improve online digital experience and ease of doing business.
iPay promises to be easy to use, reliable and faster and under this new arrangement, IRCTC will have full control of the payment system because of its direct relationships with Acquiring Banks, Card Networks and other partners. This feature will provide a better digital experience, improved online digital payment convenience and ease of doing business feel to railway passengers availing online travel-related services through IRCTC website.
As IRCTC iPay is a government owned initiative, IRCTC is also eyeing huge market opportunity in government businesses where IRCTC iPay is a good fit and better equipped to provide customized payment service.
With its use, the passengers will not need any third-party platforms as iPay provides payment options like Credit Card, Debit Card, UPI – Unified Payment Interface, International Card, an official statement here on Thursday said.
The option of IRCTC Prepaid Card cum wallet, Auto Debit shall also be available shortly. This will help reduce the gap between IRCTC and banks which will eventually lead to substantial reduction in payment failures. Moreover, in case an online transaction is unsuccessful or some other error occurs, IRCTC can directly get in touch with the bank instead of relying on an intermediate source which usually delays the process, it said.
The back-end support will be provided by Delhi based MMAD communications, which is the IRCTC’s technology partner.
The Corporation handles catering, tourism, and online ticketing operations of the Indian Railways. UNI