Tag Archives: IMPS

New Banking Defination

By | December 5, 2016

 Beneficiary Bank: Refers to the IMPS member bank where the Beneficiary‘s Account is held in a mobile Payment request.  Customer: Customer should refer to an account holder of a bank who registers to avail of the Mobile Remittance service of the Bank or wallet holder of PPIs.   IMPS: Immediate Payment Service of… Read More »

UPI -Unified Payment Interface -FAQ

By | December 5, 2016

UPI -Unified Payment Interface How is UPI different from IMPS? UPI (Unified Payment Interface)  is providing additional benefits to IMPS (Immediate Payment Service ) in the following ways: Provides for a P2P Pull functionality Simplifies Merchant Payments Single APP for money transfer Single click two factor authentication. [Read  How to do Cashless Transactions -UPI SBI… Read More »

How to use Immediate Payment Service (IMPS )

By | December 4, 2016

Immediate Payment Service (IMPS) What is IMPS? Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. It is also being extended through other channels such as ATM, Internet Banking, etc IMPS is an innovative real time payment service that is available round the clock. This service is offered by… Read More »