IRCTC is by far the largest e-Commerce portal in India – Not only do they have the largest turnover among all eCommerce companies, they are also making profits.
After IRCTC improved their infrastructure and server capacity, they now have ability to book around 7200 tickets every minute. In April of this year they broke their own record to book 13.4 lakh etickets on a single day.
Just 2-3 years back, IRCTC failure rate was as high as 30 percent – meaning out of every 10 bookings 3 of them failed and one of the primary reasons was payment gateway issues. Over last couple of years, IRCTC has made huge improvement, not only in their own payment mechanism, but also added support for third party booking mechanisms like Mobile wallets, IMPS payments, Own IRCTC wallet among other payment methods.
Now, they have added yet another payment channel –MobiKwik Wallet.
So, going forward, over 25 million wallet users can book tickets on IRCTC Mobile app using MobiKwik wallet.
Interestingly, MobiKwik will be the first and preferred payment option on IRCTC’s official Connect Android app. Currently, MobiKwik does not seem to be available on their website, but soon the wallet support will be extended to other platforms as well.
For MobiKwik, this is a big win, as they are sure to see a spike in ticket bookings through their wallet. Approximately, 25,000 to 30,000 tickets booked daily via IRCTC Android app.
MobiKwik Founder and CEO Bipin Preet Singh said, “It gives us great pleasure to announce that IRCTC has chosen MobiKwik as its preferred mobile wallet partner. Now that MobiKwik is integrated with the IRCTC Connect app, users can experience ‘super-fast, express’ payments and book all their rail tickets in a flash. MobiKwik wallet offering utmost ease and security in transactions,”
The payment mechanism with MobiKwik wallet is quiet seamless too. Company claims that they have done deep integration of their mobile wallet with IRCTC app. The user does no require to go to (or get redirected) to MobiKwik to complete the payment. The entire payment process happens within IRCTC app itself.
Other Wallets supported by IRCTC
IRCTC web portal already support host of wallets and payment mechanism including Netbanking, Credit/Debit card, Cash cards like ITZ cash, OXI Cash card and Wallets like Paytm and Airtel Money.
IRCTC also launched their own wallet in 2013 through which travelers can book their tickets. However, according to reports, it is not being used much for bookings. In first four months of the launch of their own eWallet, only 32000 passengers registered for the same.
