The Immediate Payment Service (IMPS) saw a 3.34% growth in the total transactions taking place between March and April 2016, although there was a 3.93% increase in total number of Mobile Money IDs (MMID), according to data published by the National Payments Corporation of India.
The transaction volumes grew on a monthly basis to 29.5 million (29,519,016 transactions) from 28.5 million transactions (28,564,270 transactions) while the amount transacted increased by 5.43% on a monthly basis to Rs 22,360.8 crore. The average transaction amount increased by 2.02% on a monthly basis to Rs 7,575.05 crore.
Currently, 54 commercial banks are signed up for IMPS.
– Rs 21,209 Cr transacted using IMPS in March 2016
– Rs 18,117 Cr transacted using IMPS in February 2016
– Rs 17402 Cr transacted using IMPS in January 2016
– Rs 12663 Cr transacted using IMPS in September 2015
– Rs 7337 Cr transacted using IMPS in January 2015