The Immediate Payment Service (IMPS) saw an increase of only 2% in the total transactions taking place between October and November 2017, 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 89.49 million (89,488,882 transactions) from 88.1 million transactions (88,122,215 transactions) while the amount transacted increased 4% on a monthly basis to Rs 78,258 crore- since the highest in May 2017. The average transaction amount increased by 3% on a monthly basis to Rs 8,745.
59 commercial banks have signed up for IMPS.