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IMPS Person to Merchant

Person to Person

IMPS Person to Person

Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. IMPS facilitates customers to use mobile instruments as a channel for accessing their banks accounts (interbank) and also funds transfer between these accounts. IMPS transactions can be sent and received at any time and any day
24 x 7. There are no timing or holiday restrictions on IMPS remittances.

Mobile Money Identifier (MMID) is a 7 digit number issued by a bank against an account linked to a mobile number. Remitter (customer who wants to send money) and Beneficiary (customer who wants to receive money) should have this MMID for doing interbank funds transfer - IMPS. Sender needs to mention the MMID and Mobile number of the recipient in the mobile banking application as demonstrated in the screen shots below:

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