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Wed, Oct 16, 2019 | Last Updated 1:19 am IST

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Transferring Money through IMPS is the Best Platform across Globe

Transferring Money through IMPS is the Best Platform across Globe
Transferring Money through IMPS is the Best Platform across Globe
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Reportedly with a 10 fold rise in transaction value and eight-fold increase in volumes over last year, india’s IMPS has been rated the world’s best real time money transfer platform by FIS.  Meanwhile in the sixth annual ‘Flavors of Fast report’ by FIS, which analysed 54 countries, india’s Immediate Payment Service received the only 5+ rating on the Faster Payments Innovation Index scale of 1-5. The programs were rated on innovative features, fund availability and market application.

Transferring Money through IMPS is the Best Platform across Globe

Furthermore the payment systems of countries like the US, china, japan, the UK, germany, australia, denmark, poland, romania, singapore and sweden were analyzed by FIS. It was launched almost a decade ago, IMPS is the core of one of the most evolved and sophisticated public digital payments infrastructures in the world. Further funds can be accessed via mobile devices, online, at ATMs, through text messages and at physical bank branches.



Moreover india is one market which has successfully integrated real-time payments with mobile and the result has been 1,000 per cent plus growth rates. Even though more than half the population remains offline, india’s real time scheme processes 20 million fast payment transactions each day.


Transferring Money through IMPS is the Best Platform across Globe
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