Immediate Payment Service

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IMPS - Immediate Payment Service is an interbank electronic instant mobile money transfer service through mobile phones in India.

Currently majority of interbank mobile fund transfer transactions are channelised through NEFT mechanism. Under NEFT, the transactions are processed and settled in batches, hence are not real time. Also, the transactions can be done only during the working hours of the RTGS system.

In the above context, NPCI has carried out a pilot on mobile payment system initially with 4 member banks viz State Bank of India, Bank of India, Union Bank of India and ICICI Bank in August 2010. Yes Bank, Axis Bank and HDFC Bank have joined this pilot in month of September, October and November 2010 respectively. Immediate Payment Service (IMPS) public launch happened on 22 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 facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features.

This facility is provided by NPCI through its existing NFS switch.


Input options (beneficiary details) for initiating IMPS funds transfer[edit]

  • With Mobile number and MMID
  1. IMPS allows funds transfer using a beneficiary mobile number and MMID (Mobile Money Identifier)
  2. MMID is a seven digit number, first four digits of which are called NBIN (allocated to member by NPCI) and last three digits are provided by the member
  3. A combination of mobile number and MMID is linked to a unique account number.
  • Using Account number and IFSC
  1. IMPS allows funds transfer using beneficiary account number and IFSC.
  • Using AADHAAR number
  1. IMPS allows funds transfer using the Aadhaar number.

Objectives of IMPS[edit]

  • Building a robust retail payment service that is real time, available 24X7 (on holidays too) & is cost effective.
  • Providing a channel independent access mechanism.
  • Building an interoperable fund transfer service involving various stakeholders such as banks, non-banks (PPIs), Merchants & Telecom service.
  • Being a catalyst in facilitating financial inclusion process, providing banking services to even the last mile customer.
  • Sub-serving the goal of Reserve Bank of India (RBI) in electronification of retail payments

Benefits of IMPS[edit]

  • Instant domestic fund transfer
  • 24 X 7 (works on holidays also)
  • Safe and secure, easily accessible and cost effective
  • Channel Independent (can be initiated from Mobile / Internet/ ATM channels)
  • Debit & Credit Confirmation by SMS
  • Catalyst to Financial Inclusion
  • Multiple input options to choose for initiating transactions, such as MMID/ Account /AADHAAR
  • Multiple access mechanism to choose from

IMPS: Services Offered[edit]

Sending & receiving money[edit]


  • Utility Bills
  • Electricity Bill
  • Mobile Top up & DTH Recharge
  • Credit Card Bills
  • Grocery Bills
  • Travel & Ticketing
  • Online Shopping·
  • Educational institutes (schools/Colleges) fees payment
  • POS

Donations to religious places[edit]

IMPS: Products[edit]

P2P- Persons to Person

P2A (IFSC/Account number)

P2M (Push)

P2M (Pull)

Person to Person (P2P)[edit]

IMPS P2P is a service used to transfer funds between two individuals having accounts in the same bank or in different banks which are members of the IMPS network.

The following are the details to be used while making payments using IMPS P2P service:

  1. Beneficiary Mobile No. (10 Digits)
  2. Beneficiary MMID (7 Digits)
  3. Amount
  4. MPIN (Password)
  5. Remarks (Optional -50 Characters)

IMPS P2P offers immediate debit to the remitter account and immediate credit to beneficiary account.

Person to Account (P2A)[edit]

IMPS P2A is a service started by NPCI to boost IMPS adoption by using IFSC code and beneficiary Account Number which is already popular in RTGS/NEFT transaction. In IMPS P2A, remitter needs to enter beneficiary account Number and IFSC code instead of Mobile Number and MMID.

Following are the details to be used while making payments using IMPS P2A service:

  1. Beneficiary Account No.
  2. Beneficiary IFSC (11 Digits)
  3. Amount
  4. MPIN (Password)
  5. Remarks (Optional - 50 Characters)
  6. its benificial

Person to Merchant (P2M)[edit]

A service available to IMPS customers for making payment to a Merchant/Entity for goods or services.Customer’s account gets debited and the Merchant’s account gets credited. The service is very convenient for making payments for:

  • Premium collection by customers/agents
  • DTH/Mobile top-ups
  • Any bill Payments
  • College/Institution Fee Payments

P2M has two types of transactions:

  1. Customer Initiated Transactions -Push Based (P2M-Push)
  2. Merchant Initiated Transactions –Pull Based (P2M-Pull)


In P2M -Push transaction,customer initiates the transaction from his/her Mobile Phone for a credit to the Merchant's account for the goods or services offered by the Merchant.Customers account would be debited when the customer initiates a transaction from his mobile banking application/or through any other channel for payment to an entity/Merchant who is the Beneficiary and the beneficiary's account would be credited In the customer initiated transaction (P2M PUSH), customer initiates transaction through the Bank’s mobile banking application or SMS facility provided by the Bank. The Bank offers ‘IMPS merchant payments’ form in the mobile banking application (this form is available in ‘IMPS’ menu on the main menu of mobile application) or SMS syntax for performing P2M PUSH transaction. Customer needs to enter the following parameters:

Merchant mobile number Merchant MMID Amount M-PIN Payment Reference


P2M-Pull is a transaction where the transaction is initiated at a merchant's Application(such as Merchant website, WAP site, IVR, mobile application, Mobile POS) by a customer for the goods or services offered by the Merchant. The Customers account would be debited after the customer has initiated the transaction at the Merchant's Application for a payment to a Corporate/Merchant for goods or services offered by the merchant.

Member banks[edit]

  • Allahabad Bank
  • Andhra Bank
  • Axis Bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Bassein Catholic Co-op Bank
  • BNP Paribas
  • Canara Bank
  • Catholic Syrian Bank
  • Central Bank of India
  • Citibank
  • City Union Bank Ltd
  • Corporation Bank
  • Cosmos Co-operative Bank
  • Dena Bank
  • Development Bank of Singapore
  • Development Credit Bank
  • Dhanalakshmi Bank
  • Dombivli Nagarik Sahakari Bank
  • Federal Bank
  • HDFC Bank
  • HSBC
  • ICICI Bank
  • IDBI Bank
  • Indian Bank
  • Indian Overseas Bank
  • Indusind Bank
  • ING Vysya Bank
  • Jammu & kashmir Bank
  • Janata Sahakari Bank, Pune
  • Karnataka Bank
  • Karur Vysya Bank
  • Kotak Mahindra Bank
  • Lakshmi Vilas Bank
  • Mehsana Urban Co-operative Bank
  • Nainital Bank
  • NKGSB Co-operative Bank
  • Oriental Bank of Commerce
  • Punjab and Maharashtra Co-op Bank
  • Punjab National Bank
  • RBL Bank
  • Saraswat Bank
  • South Indian Bank
  • Standard Chartered Bank
  • State Bank of Bikaner and Jaipur
  • State Bank of Hyderabad
  • State Bank of India
  • State Bank of Mysore
  • State Bank of Patiala
  • State Bank of Travancore
  • Syndicate Bank
  • Tamilnaad Mercantile Bank
  • Thane Janata Sahakari Bank
  • The A.P Mahesh Urban Co-op Bank
  • The Greater Bombay Co-op Bank
  • UCO Bank
  • Union Bank Of India
  • United Bank Of India
  • Vijaya Bank
  • Yes Bank Ltd

Member PPI's (RBI Authorised)[citation needed][edit]

  • MMPL Operating as Money on Mobile
  • Oxigen Services (India) Pvt Ltd.(Oxicash)
  • GI Technology Private Ltd - (GI Tech)
  • ITZ Cash Card Ltd. - (ITZ Cash)
  • Airtel MCommerce Services Ltd - (Airtel Money)
  • Mobile Commerce Solutions Ltd - (Vodafone M Pesa)
  • UAE Exchange & Financial Services - (UAE Exchange)

Also See[edit]

Payment and settlement systems in India


External links[edit]