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IRCTC to launch its own payment system iPay; ticketing, refunds to get simpler

With the introduction of direct link with banks, the total transaction points will be reduced. This will, in turn, reduce the amount of time it takes to make refunds.

twitter-logo BusinessToday.In        Last Updated: June 22, 2018  | 14:49 IST
IRCTC to launch its own payment system to help with online ticketing, refunds

The Indian Railway Catering and Tourism Corporation (IRCTC), which handles catering, tourism, and online ticketing operations of the Indian railways, will launch its own payment system called "IRCTC-iPay" by August 18th. It will help in alleviating troubles faced by travelers while booking train tickets online.  

Currently, only six banks are recognized by IRCTC for making online payments, which includes State Bank of India, Indian Overseas Bank, Canara Bank, HDFC Bank, Axis Bank, and United Bank of India. Currently, any person who does not hold an account in any of these banks is required to avail the services of a third-party vendor for making a payment, which made the whole process cumbersome.

Apart from the payment process, the refund process has been problematic for people using third-party vendors. With the introduction of direct link with banks, the total transaction points will be reduced. This will, in turn, reduce the amount of time it takes to make refunds. This step will also help IRCTC open direct negotiations with banks for special offers or discounts.

The new system will act as a payment aggregator and include most of the banks in the country. On its official Twitter handle, IRCTC tweeted,"IRCTC's own payment Aggregator IRCTC-iPay will be available on irctc.co.in by August 18th as Payment Card Industry Data Security Standard (PCI-DSS) security certificate has been granted to IRCTC. IRCTC-iPay provides all payment options like credit card, debit card, international card, auto debit, UPI, wallets, etc."

The Railways has been taking consistent steps to improve its services and give a brand new image to the countries lifeline. The Railway Board had earlier announced re-painting of close to 30,000 mail and express train coaches, among other upgrades. It also highlighted plans of replacing traditional train toilets with vacuum bio-toilets like those used in flights. Around 500 vacuum bio-toilets have already been ordered. Once the experiment is successful, the Board will replace all 2.5 lakh toilets in the trains with vacuum bio-toilets. 

Further, the Indian Railways has decided to overhaul its timetable by August 15. The new schedule will assist in creating 'time blocks' that would be used to foster maintenance work. The schedule is structured in a way that maintenance work is carried out in a phased manner and causes minimum disruption to railway services.

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