Cashay partners with IRCTC to launch ‘Travel Now Pay Later’ facility

This will enable Indian Railways passengers to book their rail tickets instantly and pay later in pocket-friendly EMIs, ranging from three to six months. With the payment option of cash, booking and payment for rail tickets on IRCTC Yatra App will now become easy and hassle free for lakhs of Indian Railways passengers.

The EMI payment option for passengers who have booked reserved and tatkal tickets will be available on the checkout page of the IRCTC Yatra app. Cashay’s TNPL EMI payment option provides a seamless user experience to all users by automatically qualifying them to avail the TNPL facility without any documentation.

The IRCTC Yatra app has over 90 million downloads and powers over 1.5 million railway ticket bookings per day.

V. Raman Kumar, Founder Chairman, Cashay said, “This is India’s biggest travel, now pay later embedded EMI payment journey with IRCTC. I am happy to say that our association with IRCTC is one of the best travel destinations in the country. This partnership is yet another step towards reaching and accelerating digital EMI payments.This partnership will reach out to lakhs of IRCTC customers and enable them to travel now and later pay for their train tickets in easy EMIs like never before and convenient. Cash will go a long way in providing the option. Pay travel now and later as the segment has witnessed significant growth and the message of commuters is clear – they want to pay for their journeys in installments. With cash travel Pay Now Later, we will significantly enhance the convenience and flexibility of paying IRCTC customers at the time of checkout, thereby improving the customer experience.”

Cashay’s unique proposition lies in its proprietary AI-based algorithmic platform – Social Loan Quotient (SLQ). SLQ assesses a borrower’s risk based on the user’s social and mobile data footprint, providing credit to those who do not qualify for credit from traditional lending. Apart from taking faster loan decisions, SLQ has also enabled Cash to capture the untapped markets amongst the economically excluded sections of the society. Its affordable interest rates, instant processing and flexible repayment options make it India’s most preferred digital credit platform.