IRCTC E-Wallet providers for integration for booking of Rail Ticket
E-ticketing through IRCTC website, www.irctc.co.in has revolutionized the way the common man deals with the railways and has been biggest success story of e-governance in India. Taking his further, keeping an eye on growing usage of E-wallets in India due abundance of its availability for e-commerce. Paying for a Rail Ticket is one of the priorities a common man seeks.
In this regard, IRCTC has come up with a solution with the introduction of E-wallets for the booking of Rail Ticket through IRCTC website. The main benefits of such E-wallet integrations are as under:
1. The Payment through E-wallet will enable the customers hassle free transaction.
2. Reducing booking time.
3. Reduction in transaction failure cases through minimizing payment gateway lags.
4. Enhances user friendly experience and further utilizing the customer base available with these wallet providers.
Basic Norms for E-wallet providers for the Integration for booking of Rail Tickets at www.irctc.co.in
Documentary Proof :
All these wallets should submit documentary proof of Reserve Bank of India’s approval for running prepaid instrument and details of their escrow account where all the funds loaded by customers will be parked.
Rolling Deposit Scheme /Security Deposit :
Rolling deposit is required to maintain by payment providers with minimum balance of Rs. 10 Lakhs. This advance deposit would be fully refundable after adjusting any due payment to IRCTC in case of discontinuation of the relationship or agreement between payment providers and IRCTC.
Payment Gateway Maintenance Charges :
50% of Payment Gateway Service Charge (+Service Tax as applicable), to be shared by the Prepaid Instrument/Wallet providers per successful Rail ticket transaction with IRCTC.
Invoicing and Payment :
IRCTC will raise the Invoice on monthly basis for all the successful transaction for which the payment should be settled within 15 days of the issue of the Invoice.
Tenure of the Agreement :
Initially the Agreement will be valid for (Five) 05 Years and will be renewed or extended on fulfilling terms and conditions, mutually agreed between the parties.
Payment Providers may send their proposal to the following address:
Group General Manager/Internet Ticketing
Indian Railway Catering and Tourism Corporation Ltd.,
Internet Ticketing Centre,
State Entry Road,
New Delhi- 110055.
for more details visit official website : www.irctc.co.in.
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