What is IMPS (Immediate Payment Service)?

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Explain IMPS (Immediate Payment Service)

Do you know what is IMPS? There will be many people among you who have used IMPS to transfer money, but do you have complete knowledge about this. If not, do not panic because today we are going to know about this topic. As we know that all things are available online nowadays.

NEFT and RTGS

The facility of banking is also available online nowadays. First of all, the full form of IMPS is: Immediate Payment Service and we can also say this instant payment service. IMPS is a banking payment system whereby you can send money from one account to another in real time. Where it takes some time to send money to NEFT and RTGS, it immediately completes upon sending money through IMPS, so that we do not have to wait any more.

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