Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. It is also being extended through our Money Transfer API. The IMPS platform is powered by National Payment Corporation of India (NPCI) who settles the IMPS transactions in India instantly. This method allows transferring fund to any bank at any time (24x7) within India.
National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer.
This NEFT mode settles transactions in India as batch wise and works only on working day and hours of RBI.