The Immediate Payment Service (IMPS) saw a decrease of 3.06% in the total transactions taking place between December 2018 and January 2019, 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 declined on a monthly basis to 171.51 million (171,510,000 transactions) from 176.93 million transactions (176,930,000 transactions), while the amount transacted increased on a month-on-month basis by 4% to Rs 152,296.8 crore – the highest in this month. The average transaction amount grew gradually on a monthly basis to Rs 8,879.7 per transaction.
53 commercial banks have signed up for IMPS.