IRCTC launches its own payment gateway “IRCTC iPay”.

By India News Stream Reporter

Feb 28, 2019

New Delhi: Indian Railway Catering and Tourism Corporation (IRCTC), which handles catering, tourism, and online ticketing operations of the Indian Railways, has launched its much awaited own payment aggregator system called “IRCTC iPay”.

Now 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, International Card. The option of IRCTC Prepaid Card cum wallet, Auto Debit shall also be available shortly.

The  digital payment gateway 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.

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 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.

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.

The back-end support will be provided by Delhi based MMAD communications, which is the IRCTC’s technology partner.

IRCTC last year completed its compliance of PCI-DSS (Payment Card Industry Data Security Standard).