Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with Union Bank of India (UBI) to offer a RuPay prepaid card which will let users book train tickets and buy goods or services from the IRCTC portal. The card has been developed jointly by IRCTC, UBI and National Payment Corporation of India (NPCI).
Balance limits of upto Rs 50,000
The card can be loaded with an amount convenient for the user to book railway tickets, and good and services from the IRCTC website. Every month, the first five transactions done through the card on IRCTC to buy railway tickets will be free of cost for the first 6 months. After 6 months, and after the first five free transactions, every transaction would cost Rs 10. In both, the physical and virtual cards, the partial KYC will have a limit of Rs 10,000 whereas the full KYC card will extend to Rs 50,000. Each transaction done through this card will beget reward points but IRCTC/UBI do not specify where these points can be used or to redeem what.
Full KYC card holders get insurance
The partial and full KYC cards will be valid for three years and once expired, users will have to apply for new cards. The virtual card will be valid only for a year, where users will need to reapply for a new card after a year. A full KYC card holder will receive a free accidental death insurance cover of Rs 2 lakh. According to IRCTC, both the cards are available through the IRCTC website or UBI’s website.
Cashless transactions and financial inclusion
The card may find usage for IRCTC, e-catering, tourism, Archaeological Survey of India (which lets users book tickets to the Taj Mahal and Humayun’s Tomb online) and schools and colleges. Details on how to register for a card or add balance to it here. IRCTC claims that this is the first card in India where virtual and physical cards will be issued to its users. At the launch, Railway Minister Suresh Prabhu said that the IRCTC would continue partnering with banks and financial institutions for the benefit of its customers as well as financial inclusion.
– Earlier this month, IRCTC tied with Amazon.in to sell various products to IRCTC customers.
– Last month, IRCTC tied up with Jubilant Foodworks to deliver Dominos’ pizza to the passenger’s seat if they were traveling across selected stations in India. Passengers of IRCTC could book their pizza online, through SMS or through calls, in addition to using the IRCTC’s e-catering service which serves veg/non-veg thali and veg/non-veg biryani alongside.
Last month, IRCTC had also tied-up with BookMyTrain.com to introduce cash on delivery (CoD) payment mode for buying train tickets.
– In October last year, NPCI had mentioned that users could book train tickets on IRCTC using the RuPay debit card.
– In the same month, Indian Railways tied up with Citibank to offer EMI facility for e-ticket bookings on the IRCTC portal.