Immediate Payment Service

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Immediate Payment Service
Native name
IMPS
Founded 22 November 2010
Area served
India
Website IMPS

Immediate Payment Service (IMPS) is one of the electronic funds transfer systems of India. Started in Nov.-2010.

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( BUT According to UBI it takes ONE WEEK) 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.

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

Member banks[edit]

  • Allahabad Bank
  • Andhra Bank
  • Axis Bank
  • Bank of Baroda
  • Bank of India
  • 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
  • Kerala Gramin Bank
  • Kotak Mahindra Bank
  • Lakshmi Vilas Bank
  • Mehsana Urban Co-operative Bank
  • Nainital Bank
  • NKGSB Co-operative Bank
  • Oriental Bank of Commerce
  • Pragathi Krishna Gramin Bank
  • 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
  • Tamilnad 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]

Sr. No. Prepaid Payments Instrument Issuer (PPI) No of Subscribed Users (in lakhs) Using MMID(P2P) Using Account No. & IFS Code (P2A) Active Channels Using Adhaar No. (ABRS) IMPS Merchant Payment
1 Airtel Mcommerce Services Mobile (Dial*400#)
2 GI Technology 14.31 Mobile/ Internet
3 ITZ Cash Card 2.46 Mobile/Internet
4 MMP Mobi Wallet Payment Systems Ltd. (mRupee) Mobile/Internet
5 Vodafone m-pesa Limited Mobile (Dial*400#)
6 Muthoot Vehicle and Asset Finance Ltd Internet
7 Oxigen Services Mobile/ Internet
8 UAE Exchange and Financial Services Mobile/Internet/SMS
9 My Mobile Payments Limited (MoneyonMobile) Internet
10 One97 Communication Limited Internet
11 Paypoint India Network Ltd. Internet
12 One MobiKwik Systems Pvt Ltd . Mobile

See also[edit]

References[edit]

External links[edit]