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Immediate Payment Service
 | This article needs additional citations for verification. (May 2017) |
 | |
| Operating area | India |
|---|---|
| Founded | 22 November 2010 |
| Owner | National Payments Corporation of India |
| Website | www |
Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India. IMPS offers an inter-bank electronic fund transfer service through mobile phones. The service is available 24/7 throughout the year including bank holidays. National Electronic Funds Transfer (NEFT) was also made available 24/7 from December 2019.[1] Real-time gross settlement (RTGS) was also made available 24/7 from 14 December 2020.[2]
Unified Payments Interface is built on top of IMPS, with the key architectural work done by the Mobile Payments Forum of India, IIT Madras and Institute for Development and Research in Banking Technology (IDRBT).[3][4][5][6]
- ^ Livemint (8 December 2019). "NEFT money transfer facility to be available 24×7 soon: 5 things to know". Livemint. Retrieved 16 April 2020.
- ^ "RTGS is now available 24x7: Here are its advantages". The Economic Times. Retrieved 29 December 2020.
- ^ "Mobile Payment Forum to come out with user-friendly features". mint. 29 October 2017. Retrieved 3 December 2024.
- ^ UPI: Product Booklet (PDF) (Report). NPCI.
- ^ Das, Neelanjit (4 June 2022). "What Makes India's Unified Payments Interface (UPI) A Global Test Case?". Outlook Money. Retrieved 3 December 2024.
- ^ VK, Anirudh (3 July 2019). "Multilingual Support Will Help Increase Adoption Of Mobile Payments In India, Says Gaurav Raina Of MPFI". Analytics India Magazine. Retrieved 10 April 2023.
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