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Paytm Offers IMPS For Merchant Payments

paytm-logoOne97 Communications backed, online payment platform, Paytm is offering Immediate Mobile Payments Service (IMPS) for merchant payments to make bill payments, book bus tickets or recharges through its website and mobile site. The company intends to extend the service to its apps, SMS and voice calls too. However, it is not clear how they plan to do integrate this service with voice calls.

To use their IMPS service, users have to click on the IMPS as the payment option on the site or mobile site, enter their Mobile Money ID number (MMID), mobile number and the One Time Password (OTP) given to them by their bank. Users are required to apply to their bank to obtain their MMID. Presently 23 banks support this service offered by Paytm.

Services offered by Paytm: In August 2012, Paytm had added recharges for toll cards in its catalog in addition to recharges and bill payments. Currently, it offers recharges for the Delhi-Gurgaon expressway toll plaza smart tag. The website had also introduced bus ticketing in December 2012 and had started offering real-time tracking of buses in March 2013.

Other IMPS services in India

In November 2012, Indian payment services provider atom technologies had introduced IMPS to its service in partnership with Yes Bank, to enable merchants to make inter-bank payments on their mobile phones.

In September 2012, Dish TV had introduced a new recharge option through IMPS in partnership with Yes Bank, allowing Dish TV customers to use the service through the company’s mobile application, Dish TV website and Interactive voice response (IVR).

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In the same month, National Payments Council of India (NPCI)’s IMPS extended its service to merchant payments, enabling mobile banking customers to make payments to merchants and enterprises through this payment mode. As of April 2013, 56 banks have signed up for IMPS, with 7 banks including Catholic Syrian Bank , IDBI Bank, Indian Overseas Bank, Andhra Bank, State Bank of Bikaner and Jaipur, Bank of Baroda and Dhanlaxmi Bank in soft launch.

In July 2012, IRCTC had integrated IMPS to its railway ticket booking system using OTP generated by the bank. Four banks including State Bank of India, Union Bank of India, Canara Bank and Kotak Mahindra Bank had enabled this service back then, as per an email sent out by the organization.

Other IMPS merchants include OxiCash, mobile operators such as Tata Docomo, MTNL, Aircel, Loop Mobile, Idea Cellular,  and BSNL, Internet service provider Tikona, and Airlines such as SpiceJet.

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