The Interbank Mobile Payment Service transactions have picked up since the launch of the service over a year ago. It's worth noticing that most of the transactions have been inter-bank payments (between banks) rather than intra-bank (between accounts in the same bank). With more banks signing up, and merchant transactions being enabled, the platform is ready for growth. This, however, will depend on banks making a strong push for consumer awareness, and consumer adoption (which can be slow). Data Source: National Payments Council of India On a small base of just 6014 transactions, IMPS reported a growth of 48.04% in the total transactions during July 2011. According to National Payments Council of India, 10 of 23 banks are in soft-launch mode: Corporation Bank, Oriental Bank of Commerce, Karur Vysya Bank, IDBI Bank, Indian Overseas Bank, Punjab National Bank, South Indian Bank, UCO Bank, Vijaya Bank and Andhra Bank are in Soft Launch. Share data sources with us: contact nikhil@medianama.com
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...