Imps flow


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Imps flow

  1. 1. Interbank Mobile Payment Service (IMPS)
  2. 2. Mobile Payments & NFC Asia 2011
  3. 3. 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 inclusionsThis service to prove foundation for all future mobile enabled banking services with NPCI asthe central routing agency
  4. 4. 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.
  5. 5. Initiate a transactionA remitter can initiate an IMPS transactionusing:  Beneficiary Mobile Number A...C BANK LTD Payee Mobile Number  Beneficiary MMID 9901234567 Payee MMID  Amount 9001111 Amount 500MMID is a 7 digit number, to be issued by the MPINbank to the customer upon registration XXXX  Multiple accounts per mobile number  Eliminate human errors  Transaction routing
  6. 6. Transaction flow Sender Sending NPCI Receiving Receiver Bank Bank• MPIN validation • Receiver a/c identification• Sender a/c identification • Credit to the Receiver’s a/c• Debit to the Sender’s a/c • Generate and send transaction• Generate and send transaction response• SMS confirmation to the sender • SMS confirmation to the receiver
  7. 7. Amount LimitsWith 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
  8. 8. ComplianceAll 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)
  9. 9. Fees to be chargedTransactions 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 requestsSettlements Rs. 200 per day per bank per settlement payable to CCIL until NPCI becomes a Type-D RTGS member
  10. 10. Banks offering IMPSAndhra Bank Indian Overseas BankAxis Bank Indusind BankBank of Baroda Karur Vysya BankBank of India Kotak Mahindra BankCanara Bank Lakshmi Vilas BankCatholic Syrian Bank Oriental Bank Of CommerceCitibank Punjab National BankCorporation Bank South Indian BankDevelopment Credit Bank State Bank Of Bikaner & JaipurDhanlaxmi Bank State Bank Of IndiaDombivli Nagari Sahakari Syndicate BankBankFederal Bank Tamilnad Mercantile BankHDFC Bank The Greater Bombay Co-operative Bank Ltd.ICICI Bank UCO BankIDBI Bank Union Bank Of IndiaIndian Bank Vijaya BankYes Bank
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  12. 12. Thank you