IRCTC blocks debit card payment gateway for several banks

IRCTC blocks debit card payment gateway for several banks

New Delhi, September 22: IRTC, Indian Railway Catering and Tourism Corporation recently blocked many banks from using its payment gateway for the debit card over the issue of convenience fee on Friday.

Media reports say that cardholders of the bank including  Indian Overseas Bank, Canara Bank, United Bank of India, Indian Bank, Central Bank of India, HDFC Bank and Axis Bank are allowed to make card payments.

Indian Railway Catering and Tourism Corporation waived off the Rs 20 convenience fee is charged from customers after demonetisation.

But recently IRCTC reportedly expected banks to share half the convenience fee that they charged to customers whenever they purchased tickets online.

 However, the banks reportedly did not share the amount with the Railway ticketing arm.

Media reports further said that the Indian Banks’ Association (IBA) is discussing the issue with IRCTC and the Indian Railways with a view to resolving the matter.

For railway ticketing and other passenger service transactions, the RBI guidelines which were issued on February 16, proposed a flat fee of Rs 5 has for transaction value up to Rs 1,000 and Rs 10 for transaction value Rs 1,001 to Rs 2,000.

MDR not exceeding 0.50 percent of transaction value above Rs 2,001 with a cap of Rs 250 per transaction.

Top