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IMPS amount transacted increased by 48% in September 2017

The Immediate Payment Service (IMPS) saw a 33% increase in the total transactions taking place between August and September 2017. There was a slight increase in the total number of Mobile Money IDs (MMID), according to data published by the National Payments Corporation of India, which owns and operates IMPS. The NPCI is the bank-owned organization that also runs the Unified Payments Interface (UPI).

The IMPS transaction volumes grew on a monthly basis to 108 million ( 108,003,267 transactions) from 81.1 million transactions (81,101,048 transactions) while the amount transacted increased 48% on a monthly basis to Rs 1,01,621 crore- since the highest in May 2017. The average transaction amount increased by 11% on a monthly basis to Rs 9,409.

Month-wise details

Bank Status

59 commercial banks have signed up for IMPS.

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