IRCTC on Thursday launched its own payment aggregator system called IRCTC iPay.
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, International Card. The option of IRCTC Prepaid Card cum wallet, Auto Debit will also be available soon.
Now, 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 a 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 back-end support will be provided by Delhi based MMAD communications, which is IRCTC's technology partner.
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