Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook.
Tata Teleservices subsidiary MMP Mobi Wallet Payment Systems, which offers a money transfer and payment service ‘mRupee’, has partnered with the IRCTC to enable users to use its wallet to book tickets.
IRCTC will continue offering other modes of payment along with the mRupee wallet. Note that the agency had entered into a similar agreement with Paytm in May last year. As of now, IRCTC claims to receive 4.5 to 5 lakh bookings per day on an average.
Earlier this month IRCTC introduced e-bedroll, a paid service where train passengers can book the bedsheet top, bedsheet bottom, pillow and a fabric pack for their journey at Chennai and Trivandrum Central Railway Stations. E-bedroll was planned for a launch in December, when it was supposed to roll out on a trial basis at New Delhi, Hazrat Nizamuddin, Chhatrapati Shivaji Terminus and Mumbai Central.
Limitation on tickets: Late last month, the Railway Ministry announced that from 15 February 2016, individual users would be able to book only 6 train tickets online per month on the IRCTC website. Before this, individual users could book a maximum of 10 tickets per month.
Food tie ups: The IRCTC has been tying up with multiple food delivery companies to let users order food while on the go, as well at train stations. Last month, it tied up with TravelKhana, who it had incidentally sued last month for copyright infringement; and Hello Curry in November, Foodpanda in the same month, and earlier in 2015 with Pizza Hut and KFC and Jubilant Foodworks.
Online ticketing revenue: In November, we reported that the 18 year old IRCTC generated Rs 20,620 crore (~ $3.08 billion) in online ticketing with a profit after tax of Rs 130 crore ($19.5 million) from March 2014- March 2015. This was up 34% from 2014, when its revenue was Rs 15,410 crore ($2.3 billion), and a profit of Rs 72 crore ($10.8 million).
mRupee-RBL Bank prepaid card: Last month, mRupee partnered with RBL Bank to launch a new Visa powered Open Loop prepaid card. The card would enable customers without a bank account to withdraw money from Visa supported ATMs as well as pay for goods and services where Visa cards are accepted, across the country.
Other than this mRupee also offers money transfer services to any bank account in India through IMPS, mobile, DTH & datacard recharge, utility payments and the ability to purchase air and bus tickets, make hotel bookings and others.