The Immediate Payment Service (IMPS) saw a marginal decrease of 0.6% in the total transactions taking place between March and April 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 109.6 million (109,550,000 transactions) from 110.16 million transactions (110,160,000 transactions), while the amount transacted decreased on a month-on-month basis to Rs 102,240 crore – since the highest in last month. The average transaction amount went down on a monthly basis to Rs 9,333 per transaction.
59 commercial banks have signed up for IMPS.