#1
17th August 2015, 02:53 PM
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IMPS Bank of Baroda
Hello sir would you please tell me what is the IMPS??? What is the connection to the Bank of Baroda??? Please tell me about it….
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#2
17th August 2015, 02:57 PM
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Re: IMPS Bank of Baroda
Interbank Mobile Payment Service (IMPS) is an instant real time interbank electronic fund transfer service through mobile phones. Bank of Baroda started this service for fund transfer……… it is a unique concept of mobile based account to account funds transfer. An IMPS is available round the clock, 24x7 including weekends and holidays. Process flow of IMPS: Step 1: Remitter sends instruction from his/her mobile through his/her bank provided application or SMS. Step 2: Remitting bank validates the details of the remitter and debits his/ her account. This transaction is sent by remitting bank to NPCI switch. Step 3: The beneficiary bank validates the details of beneficiary customer, credits the account, sends confirmation about transaction status and sends a SMS to the beneficiary customer informing him of the credit. Step 4: Transaction status is send to remitting bank which in turn informs the status of transaction to the remitter. Step 5: Remitting bank send a SMS confirmation of the transaction to the remitting customer. IMPS Bank of Baroda |