The Immediate Payment Service (IMPS) saw an increase of 10.99% in the total transactions taking place between February and March 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 grew on a monthly basis to 110.16 million (110,160,000 transactions) from 99.25 million transactions (99,250,000 transactions), while the amount transacted significantly increased on a month-on-month basis to Rs 103,804 crore – since the highest in this month. The average transaction amount went up on a monthly basis to Rs 9,423 per transaction.
59 commercial banks have signed up for IMPS.