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"IMPS Switching Services"
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IMPS Switching Services
IMPS Switching Services
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IMPS (Immediate Payment Service) is an instant, 24×7,
interbank, electronic fund transfer service through mobile
phones. IMPS facilitates use of mobile instrument as a
channel for accessing bank accounts – thereby, enabling
interbank fund transfers in a highly secured manner (with
immediate confirmation). This facility is provided by
National Payments Corporation of India.
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Our continued endeavour in providing cost-effective
technology based payment solutions and to serve an instant
payment trend requirement has resulted in the creation of
blazepe® IMPS Switch. Blazepe® IMPS Switch is available for
outright sale to banks. Blazepe also offers IMPS Switching
Services to Banks with existing CBS hosts.
Why IMPS
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Additional channel to bank customers for performing banking
transactions.
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Increases mobile banking customer base due to less dependency on
mobile applications.
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Promotes financial inclusion since mobiles have good penetration in
rural, semi-urban, and unbanked/underbanked populations.
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Beneficiary Banks earn interchange fees for every IMPS credit
transaction from the remitter banks.
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Key advantages of IMPS service:
- Convenience
- Speed
- Efficiency
- Availability
- Cost Effectiveness
Types of IMPS Service
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IMPS Funds Transfer
- P2P: Using Mobile No. and MMID
- P2A: Using A/c No. and IFSC code
- P2U: Using Aadhaar No. of beneficiary
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IMPS Merchant Payments
- P2M (Send Payment): Using the ‘push’ model
- P2M (Collect Request): Using the ‘pull’ model
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Other Transactions Supported
Balance Enquiry, Mini Statement, Generate/Retrieve/Cancel MMID, and
Generate OTP.
- Capabilities
- Channel Integration
- Platform Architecture
- Supports all types of IMPS transactions
- Supports all delivery channels for bank customers
- Inbuilt Software Security Module (SSM)
- Dynamic Application Manager
- Platform independent application
- Web-based user interface
- Built-in MIS reporting system
- Extensive logging and traces, and automated email alerts
- Built-in module for synchronizing data from CBS
