IMPS, or Immediate Payment Service, is a mobile payment system launched by the NPCI. It provides a robust and real-time fund transfer service that is available 24/7. You can access the service through mobile, SMS, and the internet. IMPS is available in over 644 banks and PPIs. Its widespread adoption has made it a must-have for any online casino that accepts players from India.
The project started as a pilot study of a mobile payment system with several banks in August 2010. Other banks joined the pilot program over the following months. IMPS officially launched to the public on November 22, 2010.
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How Does IMPS Work?
Using IMPS requires you to register with your bank’s mobile banking service. Registering an account will give you a mobile money identifier (MMID) and an MPIN. Keep these around, as you will need them if you plan to use IMPS. Each MMID is linked to a unique mobile number.
IMPS in online casinos work identically to any other vendor. You enter your MMID to confirm the transaction. If you enabled two-factor authentication, you would also need to verify the transaction on your device. Mobile authentication uses your phone number and MPIN.
How to Deposit with IMPS?
Deposits using IMPS are fast and straightforward. Navigate to the cashier and select deposit. Then, select the IMPS logo to use that payment method. The casino will prompt you for a deposit amount and your MMID number. The funds should become available instantly after you click deposit. You can only use IMPS with rupees. As a payment method local to India, it does not support other currencies.
How to Withdraw with IMPS?
IMPS withdrawals work similarly to their deposits. Open the withdraw section and select IMPS as your casino payment method. Then, follow the on-screen instructions to carry out the withdrawal. Make sure to double-check the withdrawal amount and that it is in line with your online casino limits.
Transfer Times, Fees, and Security
When you deposit using IMPS, you instantly receive the payout in your casino balance. Barring an unexpected delay, you should be able to start playing immediately after depositing. Withdrawing money takes a little longer as the operator needs to check and approve your request. Once the transfer goes through, it should not take more than 24 hours to receive the funds.
IMPS uses safety protocols and encryption to ensure transactions are safe. The payment method also supports two-factor authentication, making hacking and other misuses more difficult. The payment method also acts as an intermediary between the casino and the bank. Doing so protects your account from being targeted. IMPS has some fees when using its services. However, the costs are affordable and should not pose any issues for users.