Immediate
Payment Service (IMPS) is an instant, interbank (similar to NEFT) electronic
fund transfer service that can be initiated only through mobile phones and
service introduced by National Payments Corporation of India (NPCI).
Note:
About MMID? Mobile Money Identifier (MMID) is a random seven digit number
issued by banks to their customers.
If
you wish to send money using IMPS, you should have the mobile number and MMID
of the beneficiary (person whom you wish to send money to).
If
you wish to receive funds using IMPS, you should generate an MMID for your
account and share this with the remitter (person whom you wish to receive money
from). You can generate only one MMID per account.
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