IRCTC restrict six bank cards to pay online
New Delhi: The IRCTC website will not be able to book tickets with 6 more banks along with cards of SBI and ICICI banks. These banks’ cards have been banned by the IRCTC. Now client will be able to book online tickets only through Indian Overseas Bank, Canara Bank, United Bank of India, Indian Bank, Central Bank of India, HDFC Bank and Axis Bank Cards. The banks have alleged that the IRCTC has taken this step because it wants to keep the facility up to itself.According to media reports, IRCTC had asked banks to share the utility fees with it, for which the banks had expressed their objection. It was believed that the Indian Bank Organizations, IRCTC and Indian Railways would solve this issue but did not. For few months the problem of ticket bookings with SBI and ICICI had raised along with 6 other bank cards. Many people complained about it. Now, it is seems IRCTC’s new decision.It was stated from the banks that the merchant gave amount to the concerned bank though IRCTC, but IRCTC has never given money to these banks, for this reason we are charging this amount from the customers. This process has been going on for years.Merchants who use the bank’s service for the card basis payments are required to pay to one charge to banks, which is known as the Merchant Discount Amount (MDR). The banks refused to accept the IRCTC’s demand of share by saying that it will be considered violation of traders’ acquiring business principles. At present, banks have the rights to charge 0.25 percent for card transitions up to Rs.1000 and 0.50 percent charges between 1000 to 2000 rupees. For the amount more than these 1 percent of the MDR has been charging.
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