Immediate Payment Service

1] What is IMPS?
Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. It is also being extended through other channels such as ATM, Internet Banking, etc.

2] What is MMID?
Mobile Money Identification Number (MMID) is a seven digit number of which the first four digits are the unique identification number of the bank offering IMPS.

3] What beneficiary details the customer requires to effect an IMPS remittance from Person to Person?
Following beneficiary details are required :
  • MMID of the beneficiary
  • Mobile number of the beneficiary
  • Name of the beneficiary
4] What beneficiary details the customer requires to effect an IMPS remittance from Person to Account?
The beneficiary details required are:
  • Name of the beneficiary
  • Account Number of the beneficiary
  • IFS Code of the beneficiary bank

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