More payment methods

IMPS

Empowering Instant Mobile Payments in India

IMPS, short for Immediate Payment Service, is an innovative mobile payment system introduced by the National Payments Corporation of India (NPCI). IMPS enables users to make real-time interbank transfers and conduct a wide range of financial transactions using their mobile phones, fostering financial inclusion and enhancing the efficiency of payments in India.

% of coverage
  • Country

    India

  • Population

    1.43 billion (estimated)

  • Number of Internet users

    840 million (estimated)

  • Popular payment methods

    Credit Cards, Debit Cards, UPI (Unified Payments Interface), E-Wallets, Bank Transfers, Cash Payments

% of coverage
  • Credit Card

    10%

  • Debit Card

    35%

  • E-Wallets

    25%

  • Cash Payments

    15%

  • Bank Transfers

    12%

  • Other

    3%

Payment Method Overview
  • Type:Instant Payment Service
  • Currency:Indian Rupee (INR)
  • % of coverage: 50% of India’s banking population (estimated)
  • Money transfers to date: > 2 billion transactions, 15 trillion Indian Rupees (estimated)
  • Total customers:> 350 million (estimated)
  • Refunds:Yes (based on bank policies)
  • Chargebacks:Yes

About payment system

IMPS stands as a pioneer in India’s push for digital payments, offering users a secure and efficient way to conduct interbank transactions and manage their finances through their mobile phones. Users can initiate IMPS transactions by logging into their mobile banking apps or using USSD codes provided by their banks.

IMPS supports various types of transactions, including person-to-person transfers, bill payments, and even online shopping. The system operates 24/7, enabling users to transfer funds in real-time, regardless of the time of day or the day of the week. The instant nature of IMPS transactions has significantly contributed to the transformation of the payment landscape in India.

IMPS’ significance is especially pronounced in regions with limited access to traditional banking services. The system bridges the gap between urban and rural populations, enabling individuals in remote areas to engage in digital financial activities and reducing their dependence on cash transactions.

The system’s robust security measures, authentication protocols, and seamless integration with various banks showcase IMPS’ commitment to user trust and financial integrity. As India continues to advance its digital payments ecosystem, IMPS remains a driving force behind the nation’s journey toward financial inclusion, real-time transactions, and modernised payment processes.

Read all
Payment flow

The customer selects Visa as their payment option and enters their credit card details to complete the payment.

Payment methods that also might be interesting

DOC

DOC

Online banking

DOC is a payment method for batched electronic fund transfers between bank accounts.

PayMaya logo png

PayMaya

Digital wallet

PayMaya is a cutting-edge digital payment platform.

SPEI

SPEI

Online banking

SPEI is a Mexico's premier electronic funds transfer system.

Logo (3)

Klarna

Klarna: Discover payment solutions

Klarna is one of the leading Buy Now Pay Later (BNPL) services globally, operating in over 17 countries and serving over 450,000 merchants.

Logo (1)

Vipps

Vipps: Discover payment solutions in Norway

Vipps is Norway's leading mobile payment app, originally launched in 2015 by DNB. It allows users to make secure peer-to-peer transfers, pay for goods and services online, and settle group expenses with ease.

PayID

PayID

PayID: Discover payment solutions in Australia

PayID is a payment solution from Australia. Discover other payment solutions at spoynt.com

RuPay

RuPay

Digital wallet

RuPay is a domestic card payment by the National Payments Corporation of India.

Interac

Interac

Online banking

Interac Online is one of Canada's leading electronic payment services.

PayBol

PayBol

PayBol: Discover payment solutions in Turkiye

PayBol is a digital wallet developed in Turkiye. Discover other payment solutions at spoynt.com

Rapipago

Rapipago

Online banking

Rapipago is a leading cash payment network in Argentina.

Show all payment methods
Pricing

Pricing request

Our fare pricing is designed to bring satisfaction to both sides of our partnership. The pricing structure is tailored to your specific business type and monthly turnover. Kindly send us a request, including details about your business, and our dedicated success manager will promptly get back to you with our best offer.