Paytm adopts IMPS for merchant payments

Monday 17 June 2013 08:39 CET | News

Provider of mobile recharge and bill payment services Paytm has adopted Immediate Mobile Payments Service, IMPS for Merchant Payments. This new method of payment has been deployed on the Paytm mobile site, its website and is set to be extended to its apps.

To use IMPS, users have to click on the IMPS tab on the site or mobile site, enter their MMID or the Mobile Money ID number, their mobile number and the One Time Password given to them by their bank. MMID can be obtained by applying to the bank. OTP is also given by the bank through various means of communication.

57 banks are live with IMPS for their consumers, while 23 out of these are supporting it for merchant payments.

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Keywords: Paytm, IMPS, India
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce