The Immediate Payment Service (IMPS) saw a slight decrease of 0.3% in the total transactions taking place between January and February 2018, 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 declined on a monthly basis to 99.25 million (99,250,000 transactions) from 99.59 million transactions (99,591,901 transactions), while the amount transacted increased marginally increased on a month-on-month basis to Rs 88,270 crore – since the highest in May 2017. The average transaction amount went up on a monthly basis to Rs 8,894 per transaction.
59 commercial banks have signed up for IMPS.