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    Immediate Payment Service (IMPS)

    News about Immediate Payment Service (IMPS).

    Indian government unveils sweeping proposals to reduce the use of cash

    February 2nd, 2017

    The Government of India has introduced a series of incentives designed to encourage consumers and businesses to adopt digital and mobile payments and significantly reduce the use of cash in the economy — including plans… More

    Mobile payments to become ‘de-facto payment mode’ in India after banknote change

    November 15th, 2016

    Mobile payment transaction volume in India is expected to grow more than 90% each year over the next five years, with digital payments becoming the “de-facto payment mode” in the country, in the wake of… More

    India offers tax break for electronic payments?

    June 24th, 2015

    Merchants in India accepting electronic payments could be offered a tax rebate, a government proposal suggests. Fees for cash handling could increase, meanwhile, as part of an effort to encourage electronic payments, defined as those done “through means of cards, mobile wallets, mobile apps, new banking, Electronic Clearing Service (ECS), National Electronic Fund Transfer (NEFT), Immediate Payment Service (IMPS) or other similar means”.