You are here: Home » Companies » News
Business Standard

IRCTC launches its own payment aggregator system called IRCTC iPay

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

Press Trust of India  |  New Delhi 

IRCTC iPay

The (IRCTC) has launched its own payment aggregator system, iPay, a step which will help promote government's Digital India initiative.

A statement from the railways' catering and ticketing arm said 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 website.

"With the launch of iPay, the passengers will not need any third-party platforms as the 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 statement said.

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 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.

First Published: Thu, February 28 2019. 13:55 IST
RECOMMENDED FOR YOU