The MobiKwik option shall now appear on the payments page of IRCTC's tatkal bookings section. The Indian Railway Catering and Tourism Corporation (IRCTC), the Indian Railways' online ticketing arm, has forged this partnership with one of India’s largest independent payments companies in order to power e-cash payments for tatkal bookings, moving one step closer to the country's Digital India dream.
MobiKwik claims to have a 50 percent higher success rate and be at least five to ten times faster in processing payment requests than its competitors and other modes of online payment, with transactions being carried out in just over two seconds. Tatkal, the special service that was launched for passengers who have to plan their journeys at the last moment and need reserved seats, is a high-demand and volume offering. When the counters open at 10 am on the morning of the day immediately prior to the date of travel, IRCTC's servers experience a massive load of over a thousand ticket bookings per minute, with users fighting it out to a nail-biting finish. On an average, over 15 percent of daily ticket bookings for Indian Railways happen under tatkal.
Given that the demand-supply curve for the service is skewed, it is imperative that the service is supported by a robust payment system. To that effect, MobiKwik's efficiency and success rate made it the choice for IRCTC. The service will also help users in ensuring that their bookings do not get rejected due to payment delays.
Speaking on this development, Upasana Taku, Co-founder of MobiKwik, said, “MobiKwik collaborated with Indian Railways to digitise payments on the IRCTC and IRCTC FoodOnTrack apps this year, and we are now powering payments for tatkal online, which will help users book tickets almost instantly. We are proud to support the largest rail network in Asia in their endeavour to digitise payments and provide the best payments experience to their users.”
MobiKwik payments at tatkal can help the service run smoothly and iron out delays in booking. This facility is available at www.services.irctc.co.in, and users can book their tickets between 8 am and 12 pm daily.
To book a tatkal ticket with MobiKwik within two seconds, users must preload their wallet with the desired amount using net banking, credit or debit cards, or cash loading. The payments major also has a cash pick-up service in New Delhi, Mumbai, Bengaluru, Surat and Jaipur. Users can also deposit cash in MobiKwik from 100,000 locations in 10,000 cities. These locations can be seen on the "nearby" tab of the MobiKwik app.
MobiKwik, with over 35 million users and 100,000 retailers like IRCTC, Uber, Meru Cabs, Big Bazaar, OYO Rooms, Zomato, PVR, Archies, BookMyShow, Grofers, Big Basket, Dominos, Burger King, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Barista, Van Heusen, Louis Phillips, and MakeMyTrip, among others, has raised three rounds of funding worth $110 million from reputed players like Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments and Net1.