The Immediate Payment Service (IMPS) saw a 15.25% growth in the total transactions taking place between June and July 2014, although there was only a 1.74% increase in total number of Mobile Money IDs (MMID) issued, according to data published by the National Payments Council of India. The transaction volumes also saw a similar 15.25% monthly growth to 4.4 million (4,497,034) from 3.9 million (3,901,865) while the amount transacted increased by 16.42% on a monthly basis to Rs 3,196.40 crore. The average transaction amount increased by only 1.02% on a monthly basis to Rs 7,107.80. Month-wise details: Bank Status 63 banks have so far signed up for IMPS, with seven 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. As of now, ICICI…
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