Razorpay integrates UPI into IRCTC website and app

By : |February 28, 2018 0

Digital payments company Razorpay has partnered with Indian Railway Catering and Tourism Corporation(IRCTC) to enable users to book tickets through UPI based service, in addition to the credit/debit cards, wallets, and net banking.

The move first reported by Economic Times states that through this partnership, Razorpay expects to process more than a million transactions a month on IRCTC website and mobile app.

Harshil Mathur, CEO, and Co-Founder of Razorpay said, “Rail travel in India has been growing exponentially over the years and 2017 saw 30 million more passengers than the previous year. Our UPI offering will help IRCTC offer a new payment channel for customers that will effectively manage online payments during peak hours of the day in a frictionless manner.”

Razorpay, founded in 2013 by Harshil Mathur and Shashank Kumar, is an online payment gateway which allows Indian businesses to collect payments online through credit card, debit card, net banking and wallets like JioMoney, Mobikwik, PayUmoney, Airtel Money, FreeCharge, Ola Money and PayZapp.

Last month, Razorpay closed it’s Series B funding round of $20 million led by existing investors Tiger Global and Y Combinator. The round also saw participation from Matrix Partners.

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