Tatkal booking with buy now paylater scheme

Indian Railways has introduced new facilities to book tatkal tickets which is set  more simpler and easy. The website of Indian Railway Catering and Tourism Corporation Ltd.(IRCTC ) introduced the concept of “buy now pay later” scheme .Customers can book the e-ticket and pay for the ticket through the online website within 15 days.

Minister of State for Railways ,Rajen Gohain gave this information in a written reply to a question in Lok Sabha on Wednesday.The Ministry of Railways informed that the facility will be powered by M/s Arthashastra Fintech Pvt. Ltd.,a pilot project introduced by IRCTC.

In this “buy now pay later ” scheme ,service charge of 3.5 per cent is levied on the transaction amount along with other taxes.If the customer fails to pay the cash within 15 days ” It will lead to levy of penal interest at the rate of 36% per annum and may also lead to cancellation of your ticket or user account deactivation.” This service works on a first-come-first-served model.
IRCTC processes 130,000 tatkal transactions daily. A majority of these tickets is booked within minutes of the quota opening. On one passenger name record (PNR), only four Tatkal e-ticket reservations can be made.

How it works:

  •   The customers need to first register with irctc.payondelivery.co.in in order to avail the ‘pay on delivery’ option. They need to tender either Aadhaar or PAN details at the time of registration.
  • User needs to choose the option “pay-on -delivery while booking the ticket on IRCTC portal
  •  The digital delivery happens instantly via SMS /email. The collection happens within 24 hours of the booking
  • The customer can also pay online through a payment link that will be sent to them (via email and sms sent to pay in the specified period ) at time of booking.

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