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

Customer Registration

Beneficiary

Register his / her mobile number with the bank account and get MMID from

his/her respective bank.

Remitter

Register for mobile banking and get MMID & MPIN from the respective bank.

Initiate a transaction

A remitter can initiate an IMPS transaction

using:

A...C BANK LTD

Payee Mobile Number

9901234567

Payee MMID

9001111

Amount

500

MPIN

XXXX

MMID is a 7 digit number, to be issued by the

bank to the customer upon registration

Multiple accounts per mobile number

Eliminate human errors

Transaction routing

Beneficiary MMID

Amount

Beneficiary Mobile Number

Transaction flow

Sender Receiving

Bank

NPCI Sending

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

Amount Limits

With end to end encryption:

Banks are free to set their own limit (Refer RBI circular Circular RBI / 2011 -

12/312 DPSS.CO.PD.No. 1098 / 02.23.02 / 2011-12 dated December 23, 2011)

Without end to end encryption:

Transactions up to Rs. 5,000 can be facilitated (As per RBI circular

RBI/2010-11/511 DPSS.CO.No.2502 /02.23.02/ 2010-11 dated May 04,

2011)

These limits are prescribed by the Reserve Bank of India

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 (FIU-

IND)

Fees to be charged

Transactions

No fees is charged till 31st March 2011

From 1st April 2011, Rs. 0.10 per successful transaction

For the initial one year, no fee shall be levied on unsuccessful / failed

transactions

No fee will be charged on verification requests

Settlements

Rs. 200 per day per bank per settlement payable to CCIL until NPCI

becomes a Type-D RTGS member

Banks offering IMPS Andhra Bank Indian Overseas Bank Axis Bank Indusind Bank Bank of Baroda Karur Vysya Bank Bank of India Kotak Mahindra Bank Canara Bank Lakshmi Vilas Bank Catholic Syrian Bank Oriental Bank Of Commerce Citibank Punjab National Bank Corporation Bank South Indian Bank Development Credit Bank State Bank Of Bikaner & Jaipur Dhanlaxmi Bank State Bank Of India Dombivli Nagari Sahakari

Bank Syndicate Bank

Federal Bank Tamilnad Mercantile Bank

HDFC Bank The Greater Bombay Co-operative Bank Ltd.

ICICI Bank UCO Bank IDBI Bank Union Bank Of India Indian Bank Vijaya Bank Yes Bank

Please write to us on

imps@npci.org.in

Please visit us on

www.npci.org.in

Thank you