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    IMPS Process Flow

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    Thamil Inian
    The Interbank Mobile Payment Service (IMPS) allows instant interbank fund transfers between bank accounts using mobile phones. 24/7 availability and transaction confirmations are provided. Transactions can be initiated using the payee's mobile number, MMID, and amount. The transaction flows between the sender's bank, NPCI for routing, and receiver's bank for debiting/crediting accounts. Transaction limits and fees are set by participating banks according to RBI guidelines. IMPS aims to provide a foundation for future mobile banking services in India.

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    IMPS Process Flow

    Uploaded by

    Thamil Inian
    2K views12 pages
    The Interbank Mobile Payment Service (IMPS) allows instant interbank fund transfers between bank accounts using mobile phones. 24/7 availability and transaction confirmations are provided. Transactions can be initiated using the payee's mobile number, MMID, and amount. The transaction flows between the sender's bank, NPCI for routing, and receiver's bank for debiting/crediting accounts. Transaction limits and fees are set by participating banks according to RBI guidelines. IMPS aims to provide a foundation for future mobile banking services in India.

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    The Interbank Mobile Payment Service (IMPS) allows instant interbank fund transfers between bank accounts using mobile phones. 24/7 availability and transaction confirmations are provided. Transactions can be initiated using the payee's mobile number, MMID, and amount. The transaction flows between the sender's bank, NPCI for routing, and receiver's bank for debiting/crediting accounts. Transaction limits and fees are set by participating banks according to RBI guidelines. IMPS aims to provide a foundation for future mobile banking services in India.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2K views12 pages

    IMPS Process Flow

    Uploaded by

    Thamil Inian
    The Interbank Mobile Payment Service (IMPS) allows instant interbank fund transfers between bank accounts using mobile phones. 24/7 availability and transaction confirmations are provided. Transactions can be initiated using the payee's mobile number, MMID, and amount. The transaction flows between the sender's bank, NPCI for routing, and receiver's bank for debiting/crediting accounts. Transaction limits and fees are set by participating banks according to RBI guidelines. IMPS aims to provide a foundation for future mobile banking services in India.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 12

    Interbank Mobile Payment Service (IMPS)

    Mobile Payments & NFC Asia 2011

    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

    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.

    Initiate a transaction
    A remitter can initiate an IMPS transaction

    using:

    Beneficiary Mobile Number Beneficiary MMID

    A...C BANK LTD


    Payee Mobile Number 9901234567 Payee MMID 9001111 Amount 500 MPIN XXXX

    Amount

    MMID is a 7 digit number, to be issued by the bank to the customer upon registration

    Multiple accounts per mobile number


    Eliminate human errors Transaction routing

    Transaction flow
    Sender Sending Bank NPCI Receiving Bank Receiver

    MPIN validation Sender a/c identification Debit to the Senders a/c Generate and send transaction SMS confirmation to the sender

    Receiver a/c identification Credit to the Receivers a/c Generate and send transaction response SMS confirmation to the receiver

    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

    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 (FIUIND)

    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

    Banks offering IMPS


    Andhra Bank Axis Bank Bank of Baroda Bank of India Canara Bank Catholic Syrian Bank Citibank Corporation Bank Development Credit Bank Dhanlaxmi Bank Dombivli Nagari Sahakari Bank Federal Bank
    HDFC Bank

    Indian Overseas Bank Indusind Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Oriental Bank Of Commerce Punjab National Bank South Indian Bank State Bank Of Bikaner & Jaipur State Bank Of India
    Syndicate Bank Tamilnad Mercantile Bank The Greater Bombay Co-operative Bank Ltd.

    ICICI Bank IDBI Bank Indian Bank Yes Bank

    UCO Bank Union Bank Of India Vijaya Bank

    Please write to us on
    [email protected]

    Please visit us on
    www.npci.org.in

    Thank you

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