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Immediate Payment Service (IMPS)

Immediate Payment Service (IMPS) is an innovative real time payment service that is available round the clock. This service is offered by National Payments Corporation ofIndia (NPCI) that empowers customers to transfer money instantly through banks and RBI authorized Prepaid Payment Instrument Issuers (PPI) across India.

NPCI conducted a pilot study on the mobile payment system with the banks like SBI, BOI, UBI and ICICI in August 2010. Also the banks like Yes bank, Axis and HDFC bank joined this league in the month of september, october and november 2010 respectively. 

Immediate  Payment Service:
Immediate  Payment Service (IMPS) public launch happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai and this service is now available to the Indian public.
  • IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones.
  • IMPS is an emphatic tool to transfer money instantly within banks across India through mobile, internet and ATM which is not only safe but also economical both in financial and non-financial  perspectives.

  • To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
  • Making payment simpler just with the mobile number of the beneficiary         
  • To sub-serve the goal of Reserve Bank of India (RBI)  in electronification of retail payments
  • To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner
  • To build the foundation for a full range of mobile based Banking services.   
  • Instant service
  • Available 24 x7 (functional even on holidays)
  • Safe and secure, easily accessible and cost effective
  • Channel Independent can be initiated from Mobile/ Internet / ATM channels
  • Debit & Credit Confirmation by SMS
IMPS enabled Process:
The customer has to do the Mobile Banking Registration if he/she wants to initiate the transaction through mobile channel.
  • For internet, ATM and bank branch channels, mobile registration is not required.
Collect his/her MMID from bank and share with sender or alternatively share his/her Account number & IFS code or Aadhaar number for receiving money.
  • For receiving money using Mobile no. & MMID, Mobile registration is mandatory.
The following channels may be used to initiate IMPS transactions.
  • Mobile phones
  • Smartphone- Bank App/ SMS / WAP/USSD (NUUP)
  • Basic phone-SMS/USSD (NUUP)
  • Internet- Bank’s Internet banking facility
  • ATM-By Using ATM Card at Banks ATM
Options available for a customer for doing IMPS transaction:
  • Using Beneficiary Mobile no. and MMID
  • Using Beneficiary Account no. and IFS Code
  • Using Beneficiary Aadhaar Number

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