The Immediate Payment Service (IMPS) saw an increase of 9.5% in the total transactions taking place between November and December 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 98.01 million (98,006,169 transactions) from 89.5 million transactions (89,488,882 transactions) while the amount transacted increased 11.3% on a monthly basis to Rs 87,106 crore- since the highest in May 2017. The average transaction amount increased by 1.6% on a monthly basis to Rs 8,887.
59 commercial banks have signed up for IMPS.