IRCTC Alert! Book Indian Railways ticket today and pay later! This digital payment platform is making it possible

IRCTC Alert: Booking Indian Railways tickets without paying money and any interest in the ticket price is possible now. ePayLater digital payment solution is making it possible for the IRCTC customers who book railway tickets online. The ePayLater digital payment solution platform has tied up with the IRCTC that allows ePayLater customers to book railway tickets even when they don't have money. Driven by the Mantra - Cashless Convenient Credit, ePayLater can primarily be defined as a payment solution that comes with a ‘Buy now, Pay later’ approach. It is a new-age digital payment solution, majorly focusing on frequent online purchasers with a credit term of 14 days. It is recognized as a startup by the 'Department of Industrial Policy and Promotion' of the Government of India's Ministry of Commerce. ePayLater’s “Buy Now, Pay Later” facility is available on the IRCTC platform and people can book a ticket through this ePayLater digital payment solution even when they don't have money to pay at the time of railway ticket booking.

ePayLater combines the convenience and ease in payment methods to make credit available at both online and offline point-of-sale. It offers credit at the point of sale to fulfill the needs of individuals both for personal consumption, as well as to support the self-owned business. In a nutshell, this product not only removes the hassle of entering credit card details repeatedly but also allows consumers to buy items in bulk and settle the payment when they have time on their hands.

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The concept owes its genesis to prevailing issues of lack of availability and access to credit for a large part of the population of the country. Furthermore, high dependence on cash in both online and offline markets; associated costs to merchants and inconvenience associated with payment methods led to the conceptualization of ePayLater. The primary idea behind the concept is to encourage the responsible use of credit across the country, which in turn would contribute to overall economic growth.

According to the ePayLater, almost 80 per cent travelers are choosing to travel by Sleeper class and 3AC tickets, which are the most economical means. 10-15 per cent are preferring 2AC while only 1 per cent is choosing First AC for travel during the holiday time. Which means, ePayLater is able to dent into the lower middle class and middle middle class.