The Immediate Payment Service (IMPS) saw a 5.34% growth in the total transactions taking place between April and May 2016, although there was a 6.92% 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 31.09 million (31,093,969 transactions) from 29.51 million transactions (29,519,016 transactions) while the amount transacted increased by 4.92% on a monthly basis to Rs 23,460.5 crore. The average transaction amount decreased by 0.40% on a monthly basis to Rs 7,545.04 crore.
Currently, 54 commercial banks are signed up for IMPS.
– Rs 22,360 Cr transacted using IMPS in April 2016
– 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