The Immediate Payment Service (IMPS) saw a 14.8% decrease in the total transactions taking place between October and November 2016. There was a 7.78% increase in total number of Mobile Money IDs (MMID), according to data published by the National Payments Corporation of India. The NPCI is also the bank-led organization that runs the Unified Payments Interface (UPI), which doesn’t allow wallets.

The IMPS transaction volumes declined on a monthly basis to 40.34 million (40,340,732 transactions) from 47.3 million transactions (47,332,046 transactions) while the amount transacted decreased 6.2% on a monthly basis to Rs 35,500.7 crore. The average transaction amount grew by 10% on a monthly basis to Rs 8,800.

Month-wise details:


Bank Status

53 commercial banks have signed up for IMPS.

Related

Rs 37,839 Cr transacted in October 2016 using IMPS
Rs 31,916 Cr transacted in September 2016 using IMPS
Rs 29,657 Cr transacted using IMPS in August 2016
Rs 26,662 Cr transacted using IMPS in July 2016
Rs 25,852 Cr transacted using IMPS in June 2016