There has been a growing need for instant payment mechanisms. Customers today have become aggressive as regards efficiency of payment methods and therefore there is a demand for greater payment mobility and flexibility. The traditional RTGS and NEFT methods are just not enough. Customers expect multiple channels for making payments and as a result, instantaneous payment systems using ATM, kiosk, mobile and online channels have evolved. This is the genesis of Immediate Payment System (IMPS) introduced by NPCI.
IMPS is offered by MAXIMUS in accordance with the requirements stipulated by NPCI. The IMPS offering is called MAXIMUS ABHI. This solution works on multiple channels – mobile phone, ATM, kiosk and online.
The request received from mobile phones, SMS or Internet banking are routed by ABHI to the service provider’s web service which, in turn, communicates the request to the bank’s switch. The request coming from ATM and kiosk are routed to the switch directly. Fund transfer request gets debited to the remitter’s account immediately and the credit effect is handled through NPCI. Upon successful completion of a transaction, the remitter receives a confirmation on the Terminal used.
ABHI facilitates registration of customer with the bank before he/she can carry out an IMPS transaction using a mobile phone. Registration is not required for transactions for other channels. Customer can link more than one account to the same mobile number. However, there would be a different Mobile Money Identifier (MMID) for each account.
In the case of mobile-based IMPS, the combination of mobile number and MMID would form a unique link to the account and would help identify the beneficiary details. Using the MMID, the customer can request for his mobile PIN (MPIN) from the bank. Also, MMID together with MPIN are used by the customer to carry out the permitted banking transactions.
For IMPS through ATM, kiosk or online, the normal transaction flow is followed. For fund transfer to a beneficiary’s account, the mobile number and MMID of the beneficiary would also have to be entered by the remitter.
ABHI supports balance enquiry, mini statement, fund transfer, MPIN change (for mobile), bank requests and feedback input.
- Processing of payment transaction done in self-service mode, irrespective of value
- Secure payment mode
- Banking access provided round-the-clock through access to ATM, kiosk, online or mobile
- Instantaneous transfer of funds to the registered beneficiary