IMPS

Immediate Payment Service

IMPS is India's real-time payments service that enables instant bank-to-bank transfers. It supports 24/7 payments and provides immediate confirmation, complementing batch systems like NEFT.

IMPS works across multiple access channels including mobile, internet banking, and ATMs. It provides the immediate settlement backbone for services like UPI.

Related Terms

UPI

Unified Payments Interface

UPI is India's real-time payments system that enables instant transfers between bank accounts using ...

NEFT

National Electronic Funds Transfer

NEFT is India's national electronic funds transfer system for account-to-account payments. It proces...

RTGS

Real-Time Gross Settlement

RTGS is a funds transfer system where money moves from one bank to another on a real-time and gross ...

IFSC

Indian Financial System Code

IFSC is an 11-character alphanumeric code used to identify bank branches in India for electronic pay...

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