RazorPay will also provide options like net banking, wallets and credit or debit cards.
Razorpay’s partnership with IRCTC will help users get comfortable with digital money, which will eventually lead to an increasing adoption of digital payments.
Through this partnership, Razorpay’s payment gateway will process more than a million transactions a month on IRCTC website and mobile app. Rail travel in 2017 saw 30 million more passengers than in 2016.
According to National Payments Corporation of India (NPCI) data, in January 2018, there were close to 151.8 million transactions that took place through UPI.
This grew from 145.64 million transactions in December 2017 and 105 million transactions in November 2017 respectively.
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