Mobiwik Partnered with IRCTC for Online Ticket Booking
India: Under Digital India initiative, Mobiwik
has partnered with Indian Railway Catering and Tourism Corporations (IRCTC) for
tatkal booking. The Indian online ticketing arm has entered first time into
partnership with any independent payment companies to empower e-cash payment.
Tatkal booking, the special service
provided by IRCTC for passengers to plan their journey at the last moment is in
high-demand which exerts a massive load on IRCTC server’s which sometimes
results in payment failure. Mobiwik claims that their payment system has 50%
higher success rate and is at least five to ten times faster leading to
transaction completion within two seconds.
Mobiwik payment at tatkal will enable
customers to use the service hassle free. The service will ensure that customer
booking doesn’t get cancelled due to payment delays. To use the service of
Mobiwik in tatkal hours customer must preload their wallet with the required
amount using net banking, debit or
credit cards.
TechSci Research depicts that partnering
of Mobiwik with IRCTC will enable customers to use the online ticket booking services
hassle free. The companies offering mobile wallet services are entering
partnership with retail outlets and other companies to power e-cash payments.
Mobile wallet market in India is surging on account of growing online
transactions, rising trend towards mobile banking, and ease of usage of mobile
wallet applications.
According to the recent report published
by TechSci Research, “India
Mobile Wallet Market Forecast and Opportunities, 2020”, the mobile wallet market in India is
forecast to reach US$ 6.6 billion by 2020. Growing awareness regarding the benefits
of mobile wallets, rising smartphone and mobile internet penetration rates, and
increasing security measures are expected to drive growth in India mobile
wallet market. In 2014, Tier-I cities such as Delhi, Mumbai, Kolkata,
Bangalore, Pune, etc., registered the highest number of mobile wallet users in
the country, while Tier II cities such as Jaipur, Lucknow, Chandigarh, Indore,
Patna, etc. are emerging cities in terms of mobile wallet usage. Banking
accounted for the largest end user sector in the country’s mobile wallet market
in 2014, followed by retail, telecom and transportation sectors. Few of the
leading companies operating in India mobile wallet market include One97
Communication Pvt. Ltd., MobiKwik and ItzCash.