IMPS – Get Set Go for an improved IMPS experience

-

 




            NPCI today i.e. March 20, 2021vide a Tweet announced the upgradation of IMPS system.

            The full tweet can be read @ https://twitter.com/NPCI_NPCI/status/1373293757605453828/photo/1

            The upgrade is to enable the IMPS participants to experience a better, faster, and safer payment experience.

            IMPS is NPCIs offering to India for an ‘Immediate Payment Service’, channel. IMPS is the fore-runner to UPI (Unified Payment Interface).

            NPCI introduced IMPS to Bank Account Holders on 22nd November, 2010.

            The product’s initial name was ‘Inter-Bank Mobile Payment Service’. In January 2013, this was renamed as ‘Immediate Payment Service’.   

            Over the years, IMPS volumes have been on the increase.

            There are specific use cases for IMPS, which contributes to its popularity.

            Sample IMPS Use Cases:

01) Credit Card Due Payments

02) Mutual Fund Redemptions

Please refer to the below sample messages for further information.



 

To know more about IMPS, please refer to this introduction @ https://www.npci.org.in/what-we-do/imps/product-overview

Looking forward to a better, faster, and safer payment experience.



 

 

 

 


Comments

  1. E Square System and TechnologyApril 10, 2024 at 4:56 AM

    Cyber Security Services in Bhubaneswar: Protecting Businesses in the Digital Age
    Explore the top cyber security services in Bhubaneswar that offer comprehensive solutions to safeguard businesses against cyber threats. From threat detection and prevention to incident response and compliance, these services help businesses in Bhubaneswar mitigate risks and protect sensitive data in today's rapidly evolving digital landscape.

    ReplyDelete

Post a Comment

Popular posts from this blog

CERTIFICATE EXAMINATION IN INTERNATIONAL TRADE FINANCE

-
Image
          This certification is essential for all members of a Bank Trade Finance Department.   The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance.   Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under:   (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the ...
Read more

IIBF-Certificate Examination in Foreign Exchange Facilities for Individuals

-
          The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level.     This exam is being introduced pursuant to the recommendation of a committee of RBI.           Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells.           The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Un...
Read more

IIBF introduces Self-Paced E-learning courses (SPeL) for its two certificates

-
Image
          Indian Institute of Banking Finance (IIBF) has taken a quantum leap in disseminating knowledge to its members and non-members.           IIBF in April 2019, introduced the Self-Paced E-learning courses (SPeL) concept for banking enthusiasts to be familiar with banking concepts.           In the first stage, IIBF has launched   two certificate courses i.e 1. Digital Banking and 2. Ethics in Banking.           The objective of this self-paced e-learning mode are as follows: • Participants can make the best use of his or her time, in order to meet his or her learning objectives. • Participants can access the course   anywhere/anytime with an internet connection. • Participants need not travel to give their examinations. It saves time and money of the participants. ...
Read more