IRCTC launches its own payment aggregator system, IRCTC iPay
The Indian Railway Catering and Tourism Corporation (IRCTC) has launched its own payment aggregator system, IRCTC iPay. The new payment system is expected to help promote government’s Digital India initiative.
The exclusive digital payment gateway will provide an improved online digital payment convenience and ease of doing business to passengers availing online travel related services through the IRCTC website.
“With the launch of IRCTC iPay, the passengers will not need any third-party platforms as the IRCTC iPay provides payment options like credit card, debit card, UPI (Unified Payment Interface), and International Card. The option of IRCTC prepaid card cum wallet, auto debit shall also be available shortly,” said statement by IRCTC.
Under this new arrangement, IRCTC will have full control of the payment system because of its direct relationship with acquiring banks, card networks and other partners.
“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,” the statement said.