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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

    1.39 billion (as of 2023)

  • Mobile Penetration

    High, reflecting India's mobile-first population

% of coverage
  • IMPS

    35%

  • Debit/Credit Cards

    40%

  • Cash Transactions

    25%

Payment Method Overview
  • Type:Real-Time Mobile Payment System
  • AvailabilityNationwide across India, targeting urban and rural populations
  • Accepted CurrenciesIndian Rupee (INR)
  • Refunds:Subject to the policies of partnering banks and financial institutions
  • Chargebacks:Limited due to real-time nature, assessed on a case-by-case basis

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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