PayTM and IRCTC join hands for e-catering payments

PayTM, a leading payment and e-commerce provider in the country opens a new path for Indian Rail passengers to pay for food

 

Leveraging the past association with IRCTC and enhancing the usability of PayTM wallet for consumers, PayTM enters into a partnership with IRCTC. Now, Indian rail passengers can use their PayTM wallet to order food on a train.

PayTM can also be used to make payments for e-tickets booked through IRCTC website.

According to the latest stats, PayTM has 100 million wallet user base and carry 75 million transactions every month. PayTM wallet is accepted by over 80 thousand merchants and the company plans to reach 10 million merchants by 2016 end.

Indian Railways public service undertaking IRCTC sees the booking of six lakhs e-tickets on an average daily via its website and mobile application. When booking a ticket, the passengers can either opt for e-catering or while travelling. The passenger can order food through multiple ways –through the official website, making a phone call on the official or toll-free number, and texting the PNR & seat details.

TechSci Research depicts that the market opportunity is huge for PayTM as currently, IRCTC provides ‘Food on Track’ service in 1,516 trains without pantry and 45 stations across the country. Likewise, food orders through e-catering services are expected to increase due to the hassle free PayTM payment option availability to the travellers.

 

In the past, PayTM partnered with multiple online service providers such as BookMyShow, MakeMyTrip, and Uber among others. It has also partnered with major educational institutes for fee payments, uniform payments, etc. According to “India Mobile Wallet Market Forecast & Opportunities, 2020” recently published market research report by TechSci Research, the company partnerships strategy focuses on an increase of its mobile wallet usability. Also, to channelize the money to its wallet with ease, PayTM plans to partner with leading banks to allow users to add money via bank branch and ATM machines.