India · Account Transfer · Est. 2010
Immediate Payment Service is India's original 24/7 real-time interbank transfer system launched by NPCI, and the foundational infrastructure that UPI was later built upon. IMPS uses MMID (Mobile Money Identifier) and mobile number for addressing, supports transfers up to INR 5 lakh, and connects banks via the National Financial Switch. While UPI has overtaken it for consumer payments, IMPS remains widely used for direct bank-to-bank transfers and backend settlement.
IMPS is India’s real-time payment system (Account Transfer), launched in 2010. Immediate Payment Service is Indias original 24/7 real-time interbank transfer system launched by NPCI, and the foundational infrastructure that UPI was later built upon.
IMPS processed 5.2 billion transactions worth $9.0tn in 2025, a year-on-year change of -12.8%.
IMPS is operated by NPCI, with instant settlement.
IMPS launched in 2010, and today has 300 participating institutions.
IMPS is primarily an account-to-account transfer system.
Data source: NPCI.
| Capability | Status |
|---|---|
| QR Code Payments | — |
| Wallet Support | — |
| 24/7 Availability | ✓ |
| Cross-Border | — |
| ISO 20022 | — |
| Request to Pay | — |
| Open API | ◐ |
| Alias/Proxy | — |