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Interbank Mobile Payment Service (IMPS)

Mobile Payments & NFC Asia 2011

Key features

Instant interbank fund transfers

24 x 7 x 365 availability
No more sharing of bank account details

Credit and debit confirmations to sender and receiver

Simple & easy to use Time & cost saving

Safe & secure

Easily adaptable for merchant payments and financial inclusions

This service to prove foundation for all future mobile enabled banking services with NPCI as the central routing agency

Customer Registration


Register his / her mobile number with the bank account and get MMID from
his/her respective bank.


Register for mobile banking and get MMID & MPIN from the respective bank.

Initiate a transaction
A remitter can initiate an IMPS transaction


Beneficiary Mobile Number Beneficiary MMID


Payee Mobile Number 9901234567 Payee MMID 9001111 Amount 500 MPIN XXXX


MMID is a 7 digit number, to be issued by the bank to the customer upon registration

Multiple accounts per mobile number

Eliminate human errors Transaction routing

Transaction flow
Sender Sending Bank NPCI Receiving Bank Receiver

MPIN validation Sender a/c identification Debit to the Senders a/c Generate and send transaction SMS confirmation to the sender

Receiver a/c identification Credit to the Receivers a/c Generate and send transaction response SMS confirmation to the receiver

Amount Limits
With end to end encryption:

Banks are free to set their own limit (Refer RBI circular Circular RBI / 2011 12/312 DPSS.CO.PD.No. 1098 / 02.23.02 / 2011-12 dated December 23, 2011)

Without end to end encryption:

Transactions up to Rs. 5,000 can be facilitated (As per RBI circular RBI/2010-11/511 DPSS.CO.No.2502 /02.23.02/ 2010-11 dated May 04, 2011)

These limits are prescribed by the Reserve Bank of India

All the participant institutions should comply with :

Guidelines on Risks and Controls in Computers and Telecommunications KYC and AML Guidelines
Guidelines on Outsourcing Guidelines on use of Business Correspondents

Reporting of Suspicious transactions to Financial Intelligence Unit (FIUIND)

Fees to be charged

No fees is charged till 31st March 2011 From 1st April 2011, Rs. 0.10 per successful transaction
For the initial one year, no fee shall be levied on unsuccessful / failed transactions

No fee will be charged on verification requests


Rs. 200 per day per bank per settlement payable to CCIL until NPCI

becomes a Type-D RTGS member

Banks offering IMPS

Andhra Bank Axis Bank Bank of Baroda Bank of India Canara Bank Catholic Syrian Bank Citibank Corporation Bank Development Credit Bank Dhanlaxmi Bank Dombivli Nagari Sahakari Bank Federal Bank

Indian Overseas Bank Indusind Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Oriental Bank Of Commerce Punjab National Bank South Indian Bank State Bank Of Bikaner & Jaipur State Bank Of India
Syndicate Bank Tamilnad Mercantile Bank The Greater Bombay Co-operative Bank Ltd.

ICICI Bank IDBI Bank Indian Bank Yes Bank

UCO Bank Union Bank Of India Vijaya Bank

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