A scheme of booking e-ticket online and making payment after 15 days through ‘ePaylater’ powered by Arthashastra Fintech Pvt Ltd, as a pilot project has been introduced by Indian Railway Catering and Tourism Corporation Ltd (IRCTC).
Under this scheme, a customer has the option to pay after 15 days of booking an e-ticket through IRCTC website.
The service charge levied on using ‘ePaylater’ scheme is 3.50% of transaction amount and applicable taxes.
Online ticketing through IRCTC website is gaining popularity and its share vis-à-vis counter tickets is increasing. Further, online ticket booking is also being promoted as a cashless mode of transaction.
ePaylater as a payment option is displayed at the payment page of IRCTC website to make people aware about the availability of this payment method. Details about its service charge and ‘Terms & Conditions’ of the scheme are also provided at the payment option page.