IMPS (Inter- bank Mobile Payment Service)

An IMPS is the 24*7 instant fund transfer system through mobile phones. This service allow you to book railway, cinema tickets and mobile recharges etc .There are two types of IMPS system


1) P2P (Person to Person)


2) P2M (person to Merchant)


How does the P2P and P2M works?


Register your mobile number with the bank and get a seven digit Mobile Money IdentifierOr MMID number. Customer can use this MMID number to make transaction through mobile phones.


1) P2P (Person to Person) 

                              To send or initiate mobile payment service trough SMS or Mobile app  you need to know the MMID and M pin


2) P2M (Person to Merchant)

 There are two ways in P2M transaction works. Customer Initiated transactions (P2M push) Merchant initiated transactions (P2M pull). In P2M push transactions like paying insurance premium, mobile recharges, pizza order etc. P2m pull transactions are the transaction trough mobile apps.