Customer’s FAQs
For
Interbank Mobile Payment Service
(IMPS)
October, 2010
Customer’s FAQs (Version 1.1)
Customer’s FAQs on IMPS
1. What is IMPS?
Interbank Mobile Payment Service (IMPS) is an instant interbank electronic fund
transfer service through mobile phones. IMPS facilitates customers to use mobile
instruments as a channel for accessing their banks accounts and remitting funds
therefrom.
2. Presently, how are interbank fund transfers made using mobile phone?
Various banks are providing remittance facility through their mobile banking platforms.
The interbank remittance request initiated from a mobile is processed by the
beneficiary bank as a National Electronic Fund Transfer (NEFT) transaction. The
status of such payment request is therefore not known instantly because NEFT
payments are processed in batches from 9 am to 7 pm. The NEFT transactions are
charged by banks and charges vary from bank to bank
3. Does the customer need to have a bank account for availing IMPS?
Yes, the customer needs to have a bank account with the bank which has enabled this
facility.
4. Does the customer need to register to remit the funds through IMPS?
Yes. Customer should enroll for Mobile Banking Service with the bank where customer
has an account. The registration process shall be as per their bank’s laid down
procedures.
5. Is the beneficiary customer also required to register for IMPS?
The beneficiary customer should have their mobile numbers registered with the bank
where he/she maintain the account and where he intends to receive the credit and
should have a valid MMID provided by the bank. No need to specifically enroll for
Mobile Banking Service of the bank.
6. What beneficiary details does the customer need to affect an IMPS remittance?
The beneficiary details required are:
a. Beneficiary’s mobile number
b. MMID of the beneficiary customer
7. What is MMID?
Mobile Money Identifier (MMID) is a seven digit random number issued by the bank
upon registration. Remitter (customer who wants to send money) and Beneficiary
(customer who wants to receive the money) should have this MMID for doing this
interbank funds transfer.
8. Can a customer link more than one account to the same mobile number?
Yes. The customer can link the same mobile number to more than one account subject
to bank offering that feasibility.
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Customer’s FAQs (Version 1.1)
9. Incase if the customer has more than one account linked to his / her mobile
number how does he select the account from which he / she intends to pay?
The bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile
banking customers. The customer can select the account using this MMID allocated to
him / her.
The combination of mobile number and MMID helps as a mistake proofing step for the
remitter and tries to mitigate the risk of wrong credit incase the remitter enters
erroneous mobile number.
10. What is the Process flow of IMPS?
Step 1: Remitter sends instruction from his/her mobile through his/her bank provided
application or SMS.
Step 2: Remitting bank validates the details of the remitter and debits his/ her
account. This transaction is sent by the remitting bank to NPCI.
Step 3: Transaction is passed by NPCI to the beneficiary bank. Beneficiary Bank
validates the details of the beneficiary customer, credits the account, sends
confirmation NPCI about transaction status and sends a sms to the
beneficiary customer informing him of the credit.
Step 4: NPCI sends the transaction status to remitting bank which in turn informs the
status of the transaction to the Remitter.
Step 5: Remitting bank send a sms confirmation of the transaction to the remitting
customer.
11. Is there any limit on the value of transactions in IMPS?
The limit is defined by RBI in the Mobile Payment Guidelines issued to banks. The
customer can transact on IMPS subject to a daily cap of Rs. 50,000/- per customer
overall for transactions through mobile for the funds transfer. Transactions up to Rs.
1000/- can be facilitated by banks without end-to-end encryption.
12. Does the customer require a mobile handset of a particular model or make or
features to enable this service?
It depends on the bank’s mobile banking interface requirements. This varies from bank
to bank. The details can be obtained by the respective banks.
13. What can a customer do incase he / she is not able to install the mobile banking
application on his mobile handset?
Incase the customer is not able to install the mobile banking application on the mobile
handset or the application is not functioning as desired, the customer may need to
update the software on the mobile handset and re-install the mobile banking
application on the same. If the problem is not resolved, the customer should then
contact the helpdesk of the bank whose mobile banking facility the customer intends to
use.
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Customer’s FAQs (Version 1.1)
14. Can we withdraw and / or deposit money using IMPS?
Presently, the customers cannot withdraw and / or deposit money using IMPS.
15. What if IMPS registered mobile is lost or misplaced? Will anyone who comes
into possession of mobile be able to make a remittance from customer’s
account?
At the time of mobile banking registration, bank would provide the customer with a
User id and MPIN (Mobile Personal Identification Number) for accessing the mobile
banking facility. An IMPS remittance will not be possible without these two inputs.
16. What happens in case the remitter enters a wrong beneficiary mobile number for
remittance?
The beneficiary details required for making a remittance are mobile number and
MMID. The transaction will get declined in case anyone of these two numbers is
erroneous and transaction gets reversed instantly.
17. What are the timings for initiating and receiving IMPS remittances?
IMPS transactions can be sent and received at any time and any day. There are no
timing or holiday restrictions on IMPS remittances.
18. If the transaction is not completed will the customer get his / her money back?
When?
Yes. In case for any reason, technical or business, the IMPS transaction is not
completed the reversal of the remitters funds will happen immediately. In case if such
a transaction becomes a subject to reconciliation wherein the status of transaction is
not determined immediately, the reversal of funds will happen on the next working day.
19. What are the charges for the customer for sending and receiving remittances
using IMPS?
The charges for remittance through IMPS are decided by the individual banks. Please
contact your bank for the details.
20. Are there any subscription charges for the customers to avail this facility?
The charges for remittance through IMPS are decided by the individual banks.
21. How long does it take for the remittance to get credited into the beneficiary
account number?
The funds should be credited into the beneficiary account in about 15-30 seconds.
22. Can the remitter transfer funds from his / her to the beneficiary account in other
bank?
Yes, the remitting customer can transfer funds to the beneficiary account in other
banks.
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Customer’s FAQs (Version 1.1)
23. Is it necessary to have sufficient account balance to initiate a remittance?
Yes, the customer should have sufficient account balance to initiate a fund transfer.
24. Is it necessary to have a minimum balance to receive funds through IMPS?
This will be decided by the beneficiary bank.
25. How does the remitter come to know that his account is debited and funds have
been credited in the beneficiary’s account?
The remitting bank sends a confirmation SMS to the remitting customer about the
transaction initiated by him / her.
26. How does a beneficiary come to know of funds being credited to his / her banks
account?
The beneficiary bank sends a confirmation SMS to the beneficiary customer informing
him / her of the credit in the account.
27. Can a customer remit and / or receive remittance using the mobile number other
than the one registered with the bank?
The customer can remit and / or receive funds using the registered mobile number
only. In case he / she needs to remit / receive funds using the other mobile number, he
/ she will have to approach the bank and complete the process of changing the
registered mobile number for mobile banking.
28. When can the beneficiary use the funds received through IMPS?
The beneficiary can use the funds immediately on receipt of credit in the account. The
funds received through IMPS are good funds and can be used immediately upon
credit.
29. Are all banks offering IMPS?
This service has been launched as a pilot with five banks viz. State Bank of India,
Bank of India, Union Bank of India, ICICI Bank Ltd and Yes bank offering IMPS. The
updated list of banks offering IMPS will be available in our website www.npci.org.in.
Interbank Mobile Payment Service Page 5
Interbank Mobile Payment Service
Paying and Receiving money made easy!!!
I wish to send money I wish to receive money
Register yourself for mobile banking service Register your mobile number with your bank
with your Bank to link to your account.
Get your MMID and MPIN from your Bank Get your MMID from your Bank
Download and activate the mobile banking Share your Mobile number and MMid with
application on your mobile phone or initiate the remitter
the transaction using SMS syntax and Ask the remitter to send money using your
number prescribed by the bank. Mobile number and MMid
Get beneficiary Mobile number and MMID Check the confirmation sms for credit to
Send money to the beneficiary following the your account from the remitter
menu options in the mobile banking
application
Check the confirmation sms for debit to your
account and credit to beneficiary account
