Interbank Mobile Payment Service (IMPS


Mobile Payments & NFC Asia 2011 .

Key features    Instant interbank fund transfers 24 x 7 x 365 availability No more sharing of bank account details    Credit and debit confirmations to sender and receiver Simple & easy to use Time & cost saving   Safe & secure Easily adaptable for merchant payments and financial inclusions This service to prove foundation for all future mobile enabled banking services with NPCI as the central routing agency .

.  Remitter  Register for mobile banking and get MMID & MPIN from the respective bank.Customer Registration  Beneficiary  Register his / her mobile number with the bank account and get MMID from his/her respective bank.

.Initiate a transaction A remitter can initiate an IMPS transaction using:    Beneficiary Mobile Number Beneficiary MMID A.. to be issued by the bank to the customer upon registration    Multiple accounts per mobile number Eliminate human errors Transaction routing .C BANK LTD Payee Mobile Number 9901234567 Payee MMID 9001111 Amount 500 MPIN XXXX Amount MMID is a 7 digit number.

Transaction flow Sender Sending Bank NPCI Receiving Bank Receiver • • • • • MPIN validation Sender a/c identification Debit to the Sender’s a/c Generate and send transaction SMS confirmation to the sender • Receiver a/c identification • Credit to the Receiver’s a/c • Generate and send transaction response • SMS confirmation to the receiver .

PD.23.CO.02/ 2010-11 dated May 04.Amount Limits With end to end encryption:  Banks are free to set their own limit (Refer RBI circular Circular RBI / 2011 12/312 DPSS.000 can be facilitated (As per RBI circular RBI/2010-11/511 DPSS.02 / 2011-12 dated December 23. 2011) These limits are prescribed by the Reserve Bank of India .23.No.No.CO.2502 /02. 1098 / 02. 5. 2011) Without end to end encryption:  Transactions up to Rs.

Compliance All the participant institutions should comply with :  Guidelines on Risks and Controls in Computers and Telecommunications KYC and AML Guidelines Guidelines on Outsourcing Guidelines on use of Business Correspondents     Reporting of Suspicious transactions to Financial Intelligence Unit (FIUIND) .

200 per day per bank per settlement payable to CCIL until NPCI becomes a Type-D RTGS member . 0. Rs.Fees to be charged Transactions  No fees is charged till 31st March 2011 From 1st April 2011. no fee shall be levied on unsuccessful / failed transactions    No fee will be charged on verification requests Settlements  Rs.10 per successful transaction For the initial one year.

ICICI Bank IDBI Bank Indian Bank Yes Bank UCO Bank Union Bank Of India Vijaya Bank .Banks offering IMPS Andhra Bank Axis Bank Bank of Baroda Bank of India Canara Bank Catholic Syrian Bank Citibank Corporation Bank Development Credit Bank Dhanlaxmi Bank Dombivli Nagari Sahakari Bank Federal Bank HDFC Bank Indian Overseas Bank Indusind Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Oriental Bank Of Commerce Punjab National Bank South Indian Bank State Bank Of Bikaner & Jaipur State Bank Of India Syndicate Bank Tamilnad Mercantile Bank The Greater Bombay Co-operative Bank Ltd. .in Please visit us on www.npci.Please write to us on imps@npci.

Thank you .

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