What Is IMPS? What Services does It offer?

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IMPS is an immediate payment service, used for fund transfer, which was launched by the National Payment Corporation (NPCI).

What is IMPS?

IMPS is a real-time payment service that empowers customers to transfer money instantly through banks and RBI authorized Prepaid Payment Instrument Issuers (PPI) across India.

How to use IMPS?

IMPS service is available 24X7 and can be used through mobile as well as internet banking. Individuals with net banking, need not register separately for availing IMPS option. Once you have logged on to the net banking window, you can see IMPS transfer option there.

Details needed for using IMPS

For using IMPS through internet banking, you need the following,

  • Beneficiary's account number
  • IFSC code of the bank branch
  • In the case of mobile transfer, you have to know the beneficiary's account number as well as the MMID (Mobile Money Identifier) code.
  • If you are opting for IMPS through mobile, there is no need to register the beneficiary.


The charges for using IMPS option are decided by banks. Generally, the charge is Rs 5 for transfer up to Rs 1 lakh and Rs 15 for Rs 1-2 lakh. A service tax is also levied. The charges may vary according to banks.

What are the services available under IMPS?

What are the services available under IMPS?
1. Funds Transfer and Remittances

  • Sending Money
  • Receiving Money

What Is The Difference Between RTGS, NEFT And IMPS?

2. Merchant Payments

Merchant Payments

  • Online shopping
  • School & college fees payments
  • Mobile top ups & DTH recharge
  • Grocery bills
  • Travel bill payments
  • Credit card bill payments
  • Utility bills payments


3. National Unified USSD Platform (NUUP)

National Unified USSD Platform is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers. In NUUP, a customer can access banking services by just pressing *99# from his/her mobile phones.

4. Query Service on Aadhaar Mapper (QSAM)

QSAM (Query Service on Aadhaar Mapper) service helps the user in knowing their Aadhaar seeding status with their bank account. By dialing *99*99# this service can be availed. What Is RTGS? Know The Details


Read more about: imps, mobile banking
Story first published: Monday, February 20, 2017, 10:46 [IST]
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