Leading mobile payment network MobiKwik said on Tuesday that the Indian Railway Catering and Tourism Corporation (IRCTC) has tied up with it to allow passengers to book train tickets using its mobile wallet.
"As 25,000-30,000 tickets are booked daily using IRCTC Android app, we expect to spike its sales through our mobile wallet," MobiKwik said in a statement here. Though MobiKwik will allow one-tap payments for ticket bookings placed through its mobile app, the network operator plans to extend the option to the corporation's other digital platforms.
Crossing $3 billion sales online in 2014-15, IRCTC became the largest e-commerce platform in the country. "As our network is integrated with the IRCTC connect app, users can experience quick payments and book their rail tickets faster as our wallet offers ease and security in transactions," MobiKwik founder and chief executive Bipin Preet Singh said in a statement here.
Explaining the interface IRCTC inherits, he said when retailers integrate his network's wallet interface, users get to make payment from within the retailer's platform and no re-direction to MobiKwik is required.
MobiKwik is disrupting the payments space by creating an offline retail network of over 100,000 merchants across the country who serve both, as points for cash loading into the wallet and for wallet payments acceptance.
As the country's independent mobile payments network connecting 25 million users with 50,000 retailers, MobiKwk enables users to discover retailers (brick-and-mortar stores, e-com websites, m-com apps, billers, telcos) and then start paying them with 1-tap.
The company has raised close to $30 million (Rs.201 crore) in funding so far from venture partners and others, including Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments.