IMPS stands for Immediate Payment Service. It is a real-time, interbank electronic funds transfer system in India managed by the National Payments Corporation of India (NPCI)

Key Features

• 24/7 Availability: Operates round the clock, 365 days a year, including weekends and all public holidays.
• Instant Transfers: Funds are credited to the recipient’s account in real-time, usually within seconds.

• Speed: Ideal for urgent payments or emergencies where immediate settlement is required.
• Real-Time Confirmation: Both the sender and the receiver receive instant SMS or email notifications once the credit is successful.
• Versatility: Can be used for a variety of purposes beyond personal transfers, including utility bill payments, online shopping, and school fees