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.

Documentation
% 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.

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Payment flow

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

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