What is IMPS?
IMPS (Interbank Mobile Payment Services) is an instant inter bank electronic funds transfer service through mobile phones and it facilitates the customers to use mobile instruments as a channel for remitting/receiving funds. This service allows customers to do fund transfer between the bank accounts by using mobile as a channel instantly in real time manner.
The Interbank remittance request initiated from a mobile is as instant Real Time transactions. This facility will ensure customer satisfaction as it provides immediate credit of beneficiary account when a fund transfer request is made through their Mobile handsets on 24 x 7 basis.