The Immediate Payment Service (IMPS) saw a 7.5% growth in the total transactions taking place between July and August 2016, although there was a 1.56% increase in total number of Mobile Money IDs (MMID), according to data published by the National Payments Corporation of India.

The transaction volumes grew on a monthly basis to 38.59 million (38,593,716 transactions) from 35.90 million transactions (35,901,811 transactions) while the amount transacted increased 11.23% on a monthly basis to Rs 29,657.5 crore. The average transaction amount increased by 3.47% on a monthly basis to Rs 7,684.5.

Month-wise details:

Bank Status

Currently, 53 commercial banks are signed up for IMPS.

Related

– Rs 26,662 Cr transacted using IMPS in July 2016

– Rs 25,852 Cr transacted using IMPS in June 2016

– Rs 23,460 Cr transacted using IMPS in May 2016

– Rs 22,360 Cr transacted using IMPS in April 2016

– Rs 21,209 Cr transacted using IMPS in March 2016

– Rs 18,117 Cr transacted using IMPS in February 2016

– Rs 17402 Cr transacted using IMPS in January 2016

– Rs 12663 Cr transacted using IMPS in September 2015