If we were to see the netbanking failure rate for IRCTC which is the official website for booking railway tickets in India, we find that there was a failure rate of around 32% for all the transactions that happened in the month of January 2012.
The above snapshot provides the chart for IRCTC payment gateway data for the month of January 2012. There was a success rate of about 73% for debit/credit transactions. In this category, AMEX payment gateway emerged as a leader with a success rate of about 82.58%. AMEX was followed by ICICI which had success rate of 78.37% followed by AXIS PG having a rate of 75.38%.
The success rate for using a debit card/ Netbanking transactions was only 68%. Among these, the highest success rate was that for INDUSIND bank with a success rate of 76.56%. It was followed by HDFC which had a success rate of 73.16%. The third spot was taken up by ICICI having 74.86% as the success rate.
In the department of cards, the overall success rate was determined to be around 88%. The leader in cash cards was I CASH CARD with success rate of 91.76%. This was followed by ITZ Card having a success rate of 89.53%. The third spot in the card market was taken up by DONE CARD with a success rate of 83.87%.
If we look at the overall picture, a total of 1,37,41,957 transactions were attempted in the month of January 2012. Out of these, only 74% of the attempted transactions were overall successful.
This tells us the story that India has a long way to go in order to reduce the number of unsuccessful transactions made during payment. It adds to unnecessary frustration to the consumers as well as wastes valuable time of the people.