With progress comes expansion, and this can be widely witnessed in the banking domain. New banks have mushroomed at an enormous pace to satisfy the growing needs of the well-informed customer. This has also led to several branches opening in various locations all across the country. Millions of transactions take place every minute and managing the transactions in the shortest period has become a challenge for the financial institutions. Immediate Payment Services (IMPS) is a merchant payment system developed by NPCI which allows customers to use their mobile devices and bank accounts to make instant 24X7 payments to merchants or enterprises. Keeping this in mind, C-Edge has launched its own IMPS solution, which not only facilitates transfer via the mobile devices but also using the bank’s CBS. This way, banks who are not authorised to provide mobile banking services can also be a part of the same.
Features of IMPS
- Instant: Transfer takes place as soon as the fund transfer is initiated
- Anytime: IMPS is available 24X7 including weekends and holidays
- Anywhere: IMPS transfers can be executed via mobile phone irrespective of geographical location
- Simple and secure
- Based on safe and secure cloud technology
- 24 X 7 inward IMPS for the customers accounts seamlessly
- Outward IMPS using Branch CBS
- Alternative to NEFT transactions plus revenue by way of transaction fees
- All changes to the CBS will be provided by C-Edge.