The document describes the Interbank Mobile Payment Service (IMPS) which allows instant interbank fund transfers between registered bank accounts 24/7 using mobile phones. Key features include no sharing of bank details, credit/debit confirmations, and simple/secure transactions. IMPS transactions can be initiated using the payee's mobile number, MMID, or account details. Transactions are routed through NPCI and processed immediately, with SMS notifications sent. Transaction limits and fees are set according to RBI guidelines. Participating banks offer the IMPS service to their customers.

1. Interbank Mobile Payment Service
(IMPS)

2. Mobile Payments & NFC Asia 2011

3. 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

4. Customer Registration
 Beneficiary
 Register his / her mobile number with the bank account and get MMID from
his/her respective bank.
 Remitter
 Register for mobile banking and get MMID & MPIN from the respective bank.

5. Initiate a transaction
A remitter can initiate an IMPS transaction
using:
 Beneficiary Mobile Number A...C BANK LTD
Payee Mobile Number
 Beneficiary MMID 9901234567
Payee MMID
 Amount
9001111
Amount
500
MMID is a 7 digit number, to be issued by the
MPIN
bank to the customer upon registration XXXX
 Multiple accounts per mobile number
 Eliminate human errors
 Transaction routing

6. Transaction flow
Sender Sending NPCI Receiving Receiver
Bank Bank
• MPIN validation • Receiver a/c identification
• Sender a/c identification • Credit to the Receiver’s a/c
• Debit to the Sender’s a/c • Generate and send transaction
• Generate and send transaction response
• SMS confirmation to the sender • SMS confirmation to the receiver

7. 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

8. Compliance
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 (FIU-
IND)

9. Fees to be charged
Transactions
 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
Settlements
 Rs. 200 per day per bank per settlement payable to CCIL until NPCI
becomes a Type-D RTGS member

10. Banks offering IMPS
Andhra Bank Indian Overseas Bank
Axis Bank Indusind Bank
Bank of Baroda Karur Vysya Bank
Bank of India Kotak Mahindra Bank
Canara Bank Lakshmi Vilas Bank
Catholic Syrian Bank Oriental Bank Of Commerce
Citibank Punjab National Bank
Corporation Bank South Indian Bank
Development Credit Bank State Bank Of Bikaner & Jaipur
Dhanlaxmi Bank State Bank Of India
Dombivli Nagari Sahakari
Syndicate Bank
Bank
Federal Bank Tamilnad Mercantile Bank
HDFC Bank The Greater Bombay Co-operative Bank Ltd.
ICICI Bank UCO Bank
IDBI Bank Union Bank Of India
Indian Bank Vijaya Bank
Yes Bank

11. Please write to us on
imps@npci.org.in
Please visit us on
www.npci.org.in

12. Thank you