Digital mobile wallet company MobiKwik through its payment gateway, Zaakpay, has partnered with IRCTC’s Rail connect app.
The tie-up is aimed at simplifying payment systems by introducing MobiKwik’s easy-to-use interface for all, which supports payment solution through channels like debit card, credit card, net banking, ATM cards, and wallets.
However, UPI is not a payment option in this deal. Zaakpay has allowed UPI payments through a separate partnership with ICICI Bank.
Mobikwik’s payment gateway currently powers payments for more than 3,000 e-commerce websites and apps. Its tie-up with IRCTC comes against the backdrop of a significant rise in the cashless mode of transactions, especially after demonetisation.
During this financial year alone, 17% of total tickets, both reserved and unreserved, were booked through various cashless modes of payment.
“Our association with IRCTC is another step to reach out and work towards our mission of digitalising the country. This association will help the passengers to pay for their tickets seamlessly and securely, within seconds,” said MobiKwik’s chief business officer Vineet Singh, reports Mint.
IRCTC app powers over 100,000 train tickets per day. Mobikwik’s payment gateway processes more than 100 million transactions a month with a secure platform that works with different levels of security—encryption of all transactions, sensitive data storage with multiple levels of encryption API level security, claims the company.
Earlier, the Gurugram-headquartered mobile wallet platform has partnered with Samsung Pay, which is the proprietary mobile payment platform for Samsung’s high-end phones to offer one-tap payment service.
The mobile-based payment company has announced to raise Rs 225 crore from Bajaj Finance.
Besides MobiKwik, Paytm and PayU has also tied up with Indian Railway mobile-based ticket booking app.