Immediate Payment Service

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Immediate Payment Service
Native name
Founded 22 November 2010
Area served
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 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]

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 0.01 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
13 Eko India Financial Services Pvt.Ltd. Mobile/Internet/SMS

See also[edit]


External links[edit]