IRCTC bars several banks from debit card payment gateway

New Delhi, September 23: According to the reports, IRCTC has reportedly banned many banks from using its payment gateway for debit cards transactions as these lenders refused to share the convenience fees charged from customers with IRCTC.

IRCTC had stopped such banks from operating on the website as they were unwilling to share a half of the convenience fees earned on customer transactions, the report said.

IRCTC is the online ticketing platform for booking reserved seats on trains run by Indian Railways.

IRCTC website presently allows card payments banks such as Indian Overseas Bank, Canara Bank, United Bank of India, Indian Bank, Central Bank of India, HDFC Bank and Axis Bank.



Earlier, IRCTC asked banks to share half of the convenience fees collected by lenders. It is learned that The Indian Banks Association (IBA) is in the process of resolving the issue and is discussing the matter with IRCTC and the Indian Railways.

IRCTC waived off the convenience fee of Rs 20, post demonetization. "Every day we are losing 50,000 transactions," a senior executive with State Bank of India (SBI) told.