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The Immediate Payment Service (IMPS) saw a 3.23% growth in the total transactions taking place between August and September 2016, although there was a 0.22% 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 39.84 million (39,841,934 transactions) from 38.59 million transactions (38,593,716 transactions) while the amount transacted increased 7.62% on a monthly basis to Rs 31,916.7 crore. The average transaction amount increased by 4.25% on a monthly basis to Rs 8,010.8.

Month-wise details:

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Bank Status

Currently, 53 commercial banks are signed up for IMPS.