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Interbank Mobile Payment Service (IMPS) – Mumbai

“First of its kind mobile based fund transfer and retail payment system introduced and shopping made easy. Mumbai city banks got its newly launched Interbank Mobile Payment Service (IMPS) formally approved and serviced by NPCI (National Payment Corporation Of India)..”

Mobile Payment Services

Pay Money Via Mobile


In simple terms, IMPS is a simplified way of payment system for any small and medium buy/sell transaction, where customer can pay its utility bills OR transfer amount from one bank account to others, for a particular product or service purchased, via his own banked registered mobile number through the mobile payment process.

Initially in 2010 – 2011, NPCI didn’t charge customers and banks on its payment service system as this simple way of mobile payment as was on results test and as they said they will have service charge of Rs.0.25 (25 Paise) per transaction. Already 7 leading banks in Mumbai have started providing this service to their customers and expected that with time most of the banks will go for it. This facility can be used for small retail transactions and services like Purchasing fruits & vegetables, Paying Auto and Taxi fares via Mobile.

Well, It was December 2016 and Initial months of 2017 the Digital India Movement by our Prime Minister Shree Narendra Modi was seriously taken as a result of Demonetization of Rs.500 and Rs.1000 notes. But the end results are far from reach as, as soon the currency started floating in ATM cash transactions increased and various Mobile Payment Apps like PayTm, Rupay and others were seeing decline. Although a massive number of new customers were already gained by these companies, Getting India to do cashless transaction is still at large.

Mobile Payment Terminology and Keyword Reference.

  • RBI – Reserve Bank Of India.
  • NPCI – National Payment Corporation Of India (Retail Payment System Regulatory Board, Recommended and Approved by RBI).
  • IMPS – Interbank Mobile Payment Service.
  • MMID – Mobile Money Identifier (7 Digit Special Identifier Number For Service, Connected with Registered Mobile Number).
  • MPIN – Secret PIN Number issued to you by bank.

How To Send and Receive Money ?

Below is the step by step guide/process of Mobile Payment System. To keep a note this facility requires GPRS active on mobile as the service uses a mobile application. This also means that your mobile should be compatible to get that application installed on handset.

STEP 1. Register your mobile number with bank that provides the service.
STEP 2. Bank will issue MMID (See reference below) upon verification and will activate your mobile banking account.
STEP 3. Now to receive money from Mr.X transferred into your account in bank of Mumbai you have your account, Just give your Mobile Number and MMID Code.
STEP 4. As soon the sender sends the money via his mobile, You will receive a confirmation of receipt via SMS.

How Mobile Payment System Works ?

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Below is step by step work process.

  1. Sender of Money who is already registered with an MMID will initiate a transaction from his mobile application.
  2. Bank who hold his account will verify and validate his mobile number and MMID code and debits his saving/current account.
  3. Now the transaction details are forwarded to NPCI.
  4. Upon receiving request from senders bank, NPCI forwards the same to Receivers Bank.
  5. Receiver’s bank the Mobile Number and MMID and credits account of Receiver party.
  6. Now, receiver bank sends 2 separate sms’s, 1 to receiver customer and other to NCPI for successful transaction confirmation.
  7. NCPI sends the final respond of transaction to sender’s bank.
  8. Senders bank confirms the same and closes the transaction and sends a final sms to sender’s registered mobile updating about the debit amount and other details.

Banks that Offers Mobile Payment Services in Mumbai

  • State Bank Of India (SBI)
  • HDFC Bank
  • Bank of India
  • ICICI Bank
  • AXIS Bank
  • YES Bank
  • Union Bank Of India
  • More banks are in process..

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