25% Failure Rate For IRCTC Transactions [December 2010 Report]
IRCTC is India’s largest ecommerce site and while they do charge hefty amount for banner ads [see IRCTC banner ad rates], the site contributes ~14% to Indian railways revenue [though lndian railways is planning to launch its own travel site].
We earlier covered the jump in IRCTC’s transactions by 52% within a year and it’s not so surprising to note that the failure rate of transactions stands still at 25%.
As per December data, 11365456 transactions were attempted, out of which 25% were failed transactions.
- Failure rate for Credit/Debit cards was 25% [ICICI was the worst performer]
- Failure rate for Net Banking/Debit cards was 34% [Rajasthan Bank was the worst performer]
- Failure rate for Cash cards was 20% [Done Card was the worst performer]
- In terms of refunds, Citibank is the worst performer [took 5 days on an average to refund].
Big businesses like IRCTC can surely cope up with 25% transactional failure rate, but what about startups? What surprises me is that so many of credit card transaction fails on sites that uses its own payment gateway? Why?