A diesel locomotive hauling a passenger train through a railway station in India. Also Read - Jiah Khan Death Anniversary: Timeline of Events Surrounding The Mysterious Death of Nishabd Actor

Did you ever want to book a train ticket but find yourself out of cash? You’ll get your salary in a couple of weeks, but the number of available tickets is shrinking fast. And you know that no more tickets will be available by the time payday comes. What do you do then? Until now, you would have no other choice but to skip the chance to buy the ticket and pray that seats remain open and available until your salary gets credited. You may have to bum some money from your friends or parents. If not, you have to wait for the Tatkal rush to begin a day before your planned departure, and that is always a risk. ALSO READ: This passenger’s tale of what Indian Railways did for an infant will melt your heart!
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But with a new planned IRCTC service, this risky question of ‘to book or not to book’ may be getting an answer soon. The Indian Railway Catering and Tourism Corporation (IRCTC) is working on implementing a ‘book now, pay later’ service that will let you, well, book your train tickets now and pay later. For this service, IRCTC has tied up with the Mumbai-based startup ePaylater, established a couple of years ago as a service that offers the buy now, pay later model. The company got $2 million in seed funding last year for its venture, and claims to work with several online retailers. Also Read - Bangladesh ODI Captain Tamim Iqbal Was 'Ashamed Of Himself' After Seeing Virat Kohli's Fitness Levels

With the ePaylater payment option, you can buy an item with a 14-day window in which you have to make the payment for it. The firm uses its algorithm to scan your credit history, digital footprint, device info and online purchase pattern, and with this it sets your credit limit. ePaylater offers this short-term credit facility for many other low-priced, frequently-purchased items. A commission is charged from the merchant per transaction.

IRCTC spokesperson Sandip Dutta described the process, saying that the customers will get a credit card with a spending limit based on their TransUnion CIBIL credit score. You have to pay a service charge of around 3.5 percent for the convenience of booking a ticket before paying for it. And there is a catch here: the service will only be applicable for tickets booked five days before the planned date of the journey, according to Dutta. But how often do you see tickets that are available just five days before a journey? We’ll have to wait and see until the payment option is implemented.

For now, all we know is that the ‘book now, pay later’ option from IRCTC and ePaylater will be offered for Express train e-tickets only. The spokesperson said that interested customers will have to submit their email ID, name, phone number, PAN card details and, of course, Aadhaar card details. They will get a one-time password for approval of the feature. NOW READ: Passenger’s brother tweets to Indian Railways about delayed train, what happens next will make you proud!

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