The Immediate Payment Service (IMPS) saw a substantial increase of 13.9% in the total transactions taking place between September and October 2018, according to data published by the National Payments Corporation of India, which owns and operates IMPS. The NPCI is the bank-owned private organization that also runs the Unified Payments Interface (UPI).
IMPS transaction volumes grew on a monthly basis to 154.6 million (154,620,000 transactions) from 135.74 million transactions (135,740,000 transactions), while the amount transacted increased on a month-on-month basis to Rs 140,306.5 crore – the highest in this month. The average transaction amount declined marginally on a monthly basis to Rs 9,074 per transaction.
53 commercial banks have signed up for IMPS.