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Features of IMPS

Features Available Under IMPS

Features Available Under IMPS

IMPS Funds Transfer offers an instant, 24X7, interbank/intrabank electronic fund transfer service from one account to another account through mobile phones. IMPS Funds Transfer facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features.

The key features of IMPS Funds Transfer are as follows: 1. Instant Funds Transfer
2. 24*7*365 availability
3. Credit and debit confirmations to sender and receiver
4. Simple & Easy to use
5. Fast, inexpensive, safe & secure, accessible

Now IMPS can be classified as follows
1. IMPS funds transfer – Person to Person(P2P) Using Mobile Number and MMID
2. IMPS funds transfer – Person to Person(P2P) Using IFSC and Account Number.
3. IMPS Merchant payment– Person to Merchant(P2M).

Customer has to register his mobile number for SMS/Mobile Banking and he has to get the MMID( 7 Digit Code issued by the Bank) and can initiate the transaction from his mobile by knowing the beneficiary mobile number, beneficiary MMID. Customer can also make the transaction using beneficiary IFSC and Beneficiary Account Number. Currently our Bank is supporting these channels for doing IMPS funds transfer i.e. SMS, Mobile Application, USSD, Internet Banking.

Currently, IMPS Person-to-Person funds transfer requires the Remitter customer to make funds transfer using Beneficiary Mobile Number and MMID. Both Remitter as well as Beneficiary need to register their mobile number with their respective Bank and get MMID, in order to send / receive funds using IMPS. There may be cases where Remitter is enabled on Mobile Banking, but Beneficiary mobile number is not registered with the Bank account. In such cases, Remitter shall not be able to send money to the Beneficiary.

As per the feedback received from banking community, the IMPS funds transfer shall now be possible using Beneficiary account number and IFS code (P2A) as well, in addition to Beneficiary mobile number and MMID.

Initially IMPS was available only for transfer of funds from person to person. NPCI thought of extending the service for making Merchant payment also.

Customer can make payment to any kind of merchant using IMPS merchant payments service: 1. Mobile top-up / DTH top-up
2. Insurance premium payment
3. Online shopping
4. Over-the-counter payments
5. Fees payments to schools / colleges / universities
6. Utility Bill payments
7. Travel & Ticketing.
Below we have given the details instruction for doing IMPS through SMS mode, Mobile App, USSD and Internet banking.

IMPS – Person To Person using Mobile Number and MMID

IMPS DebitAccountNumber BeneficiaryMobilenumber Beneficiary MMID Number Amount 4 – Digit SMS PIN Remarks (optional)

For Eg: Syntax looks like below
IMPS 016253 9902787878 9229864 100 5245 Test
Here 016253 is the last six digit of the remitter account number.
Here 9902787878 is the beneficiary Mobile Number.
Here 9229864 is the Beneficiary MMID.
Here 100 is the Amount.
Here 5245 is the 4 – Digit PIN.
Here Test is the remarks.
Send it to Bank’s long code - 9243717778 or short code number - 5667716

Mobile Application Channel

Mobile Application Channel:

In the Corp Bank Application menu, a transaction type ‘IMPS funds transfer – To Mobile number’ will be available. Following fields need to be entered:
a. Beneficiary mobile number
b. Beneficiary MMID Number
c. Amount
d. Remarks(optional).

Internet Banking Channel

Internet Banking Channel :

IMPS – Person To Person (P2P):
1. Customer has to select debit account Number from which he wants to transfer the funds.
2. First time when customer wants to do funds transfer it will take him to enter beneficiary Mobile number, beneficiary MMID, Amount and remarks. Once after entering all the details it will ask customer whether he wants to save the template for future usage or not. If the customer is frequently making payment for the beneficiary he can save the template and then it will take him to enter the authorization password and then he has to enter the One Time Password that will be received on his mobile. Next time whenever the customer goes for transfer two options will be shown a. Existing Beneficiary b. New Beneficiary. If he wants to do fund transfer to saved beneficiary then select existing beneficiary option and then select the beneficiary name which the he has given in the first time. If he wants to transfer to a beneficiary for one time then he can opt for New beneficiary option
3. Customer has to enter the beneficiary’s mobile No. and beneficiary MMID in the respective boxes for making IMPS-Person to person fund transfer. Beneficiary has to get the MMID for his account from his Bank and has to share it with the remitter.
4. Customer has to provide the details with a max of 50 characters in the Remarks box which is mandatory.
5. Customer will receive the confirmation SMS message immediately on debit to your account as well as credit to the beneficiary’s account and the status can be verified through status query.
6. Customer has to note down the RRN No. for the transaction for future reference.
7. Advantage of IMPS – Instant Credit to the Beneficiary with SMS confirmation to both Beneficiary as well as Remitter. Works 24x7 and 365 Days.
8. Customer can use this facility to transfer money to your own account as well as any Third party having account in corporation bank.

USSD CHANNEL:IMPS fund transfer P2P and P2A

In the List of services the option3 is the IMPS Fund Transfer. Under IMPS Fund Transfer two options are there --

1. IMPS Fund Transfer to Mobile [P2P]

2. IMPS Fund Transfer to Account [P2A]

If the customer wants to use Mobile Number and MMID for IMPS funds transfer then he should give the input as “1” and then it will prompt him to enter the Beneficiary Mobile Number, MMID and Amount.

If the customer wants to use IFSC and Account Number, then he should give the input as “2” and then it will prompt him/her to enter the IFSC Code and the Account Number.

 

IMPS Fund Transfer P2P - (Person-to-Person) 

IMPS Fund Transfer P2A - (Person-to-Account) 

IMPS–Person To Person using IFSC and Account Number-SMS Channel

IMPS – Person To Person using IFSC and Account Number:
Annexure 2 :
SMS Channel :

The SMS syntax for making the transaction through SMS is as follows: IMPS 6- Digit Debit Account Number Beneficiary IFSC code Amount Beneficiary account number 4 – Digit SMS PIN Remarks (optional) For Eg: Syntax looks like below
IMPS 016253 SBIN0000123 625312452121 100 5245 Test
Here 016253 is the last six digit of the remitter account number.
Here SBIN0000123 is the beneficiary Mobile Number.
Here 625312452121is the Beneficiary Account Number.
Here 100 is the Amount.
Here 5245 is the 4 – Digit PIN.
Here Test is the remarks.
Send it to Bank’s long code - 9243717778 or short code number - 5667716.
On initiating transaction as above, customer receives the confirmation SMS with status of transaction shortly.

Mobile Banking Channel

Mobile Banking Channel:

In the Corp Mobile Application menu, a transaction type ‘IMPS funds transfer – To account number’ will be available. Following fields need to be entered:
a. Beneficiary account number
b. Beneficiary IFSC code
c. Amount
d. Remarks (optional field)

Internet Banking Channel - SMS Channel

Internet Banking Channel:

1. Customer has to select debit account Number from which he wants to transfer the funds.
2. First time when customer wants to do funds transfer it will take him to enter beneficiary Mobile number, beneficiary MMID, Amount and remarks. Once after entering all the details it will ask customer whether he wants to save the template for future usage or not. If the customer is frequently making payment for the beneficiary he can save the template and then it will take him to enter the authorization password and then he has to enter the One Time Password that will be received on his mobile. Next time whenever the customer goes for transfer two options will be shown a. Existing Beneficiary b. New Beneficiary. If he wants to do fund transfer to saved beneficiary then select existing beneficiary option and then select the beneficiary name which the he has given in the first time. If he wants to transfer to a beneficiary for one time then he can opt for New beneficiary option. 3. Customer has to enter the beneficiary’s IFSC. And beneficiary Account Number in the respective boxes for making IMPS-Person to Account fund transfer.
4. Customer has to provide the details with a max of 50 characters in the Remarks box which is mandatory.
5. Customer will receive the confirmation SMS message immediately on debit to your account as well as credit to the beneficiary’s account and the status can be verified through status query.
6. Customer has to note down the RRN No. for the transaction for future reference.
7. Advantage of IMPS – Instant Credit to the Beneficiary with SMS confirmation to both Beneficiary as well as Remitter. Works 24x7 and 365 Days.
8. Customer can use this facility to transfer money to your own account as well as any Third party having account in corporation bank. If the beneficiary is our Bank customer then 15- Digit account number has to be entered instead of

IMPS – Merchant Payment

IMPS – Merchant Payment

Merchant Payment can be classified as 1. Customer Initiated Transaction.
2. Merchant Initiated Transaction.
Customer Initiated Transaction:
In the customer initiated transaction (P2M PUSH), customer initiates transaction through the our Bank’s mobile banking application or SMS facility. The Bank offers ‘IMPS merchant payments’ form in the mobile banking application (this form is available in ‘IMPS’ menu on the main menu of mobile application) or SMS syntax for performing P2M PUSH transaction. Customer needs to enter the following parameters:
1. Merchant mobile number
2. Merchant MMID
3. Amount
4. Payment Reference( optional)
Payment Reference is an optional 50 characters field provided. This field will be used to enter the unique reference for the payment, and identifies the transaction to the merchant. The merchant decides what customer will enter in this field. For e.g. for insurance premium payment, customer may need to enter policy number in the payment reference field; for electricity bill payment, it may be consumer number. The syntax and information to be input in the payment reference field will be decided by merchant, and communication of the same will be merchant ownership
The SMS syntax for making P2M PUSH transaction through SMS is as follows: MIMPSDebit Account NumberMerchant MMIDAmountMerchant mobile numberM-PINPayment Reference
Send it to Bank’s long code - 9243717778 or short code number - 5667716.
On initiating transaction as above, customer receives the confirmation SMS with status of transaction shortly.
Merchant Initiated Transaction: In Merchant Initiated transaction (P2M PULL), the transaction is initiated through Merchant application (such as Merchant website, IVR, mobile application). The typical steps to follow for making transaction through P2M PULL are as follows:
a. Visit merchant application such as web site, mobile application,
b. Select product / service for which payment is to be made
c. In the payment options available, choose IMPS
d. Enter credentials as follows:
i. Customer mobile number
ii. Customer MMID
iii. OTP (One-Time Password)
e. The transaction status is displayed on the screen
The customer needs to enter the credentials - Customer mobile number (as registered with the Bank), customer MMID (as generated by Bank) and OTP (One-Time Password, as generated by customer).
OTP needs to be generated by customer for each transaction. OTP can be generated by customer by using mobile banking application or SMS facility. The Bank offers ‘Generate OTP’ form in the mobile banking application (this form is available in ‘IMPS’ menu within main menu of mobile banking application) or SMS syntax for ‘Generate OTP’ transaction. Customer needs to enter the following parameters:
1. M-PIN
The SMS syntax for ‘Generate OTP’ through SMS is as follows:
OTP to Bank’s long code- 9243717778 or short code number-5667716.
On initiating transaction as above, customer receives the confirmation SMS with status of transaction shortly. The OTP generated as above has following characteristics:
1. OTP is valid for 1 hour from time of generation
2. If OTP is generated through SMS, the transaction limit is Rs 5,000/- and if OTP is generated through mobile banking application limit is Rs. 50,000/-.
3. OTP is valid only for one transaction – Successful or Failure
4. Only one OTP (latest generated OTP) is valid at a time.
For transaction initiated through SMS, transaction limit is Rs 5,000/- per day and for transactions initiated through mobile banking application, transaction limit is Rs 50,000/-.

Internet Banking Channel

1. Customer has to select debit account Number from which he wants to transfer the funds.
2. First time when customer wants to do funds transfer it will take him to enter beneficiary Mobile number, beneficiary MMID, Amount and remarks. Once after entering all the details it will ask customer whether he wants to save the template for future usage or not. Next time whenever the customer goes for transfer two options will be shown a. Existing Beneficiary b. New Beneficiary. If he wants to do fund transfer to saved beneficiary then select existing beneficiary option and then select the beneficiary name which the he has given in the first time. If he wants to transfer to a beneficiary for one time then he can opt for New beneficiary option. If the customer is frequently making payment for the beneficiary he can save the template and then it will take him to enter the authorization password and then he has to enter the One Time Password that will be received on his mobile.
Here beneficiary is merchant like Mobile/DTH recharge, Credit Card bill payment, Landline bill payment etc.
One of the use cases of P2M is as below: Mobile recharge

Enter the Mobile Number as 9870888888

Enter the MMID as 9002222

Enter the Amount as 50

In the remarks column enter the details as Airtel 9902781818.
Here Merchant is oxicash and they are having account with SBI and the above mentioned MMID is allotted for their account. In the remarks we have to enter the service.
3. Customer has to provide the details with a max of 50 characters in the Remarks box which is mandatory.
4. Customer will receive the confirmation SMS message immediately on debit to your account as well as credit to the beneficiary’s account and the status can be verified through status query.
5. Customer has to note down the RRN No. for the transaction for future reference.
6. Advantage of IMPS – Instant Credit to the Beneficiary with SMS confirmation to both Beneficiary as well as Remitter. Works 24x7 and 365 Days.
7. Customer can use this facility to transfer money to your own account as well as any Third party having account in corporation bank.

Note: IMPS – Person To Merchant is currently not available through USSD Channel.

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