In the last week of February 2013, Yes Bank has gone live for IMPS transactions via its Internet Banking Module.
Yes Bank is one of the Pilot Banks of IMPS, and it was part of the IMPS network way back in November 2010.
Over the years, YES Bank has launched majority of IMPS Sub-products vis
a) IMPS using Account No and IFS Code launch on 30/11/2012
b) IMPS-Merchant Payment Service launch on 28/08/2012
The chief advantage of IMPS on internet banking is the higher transaction limits.
To encourage its IMPS registered customers, YES Bank had widely publicized the IMPS Promotion Campaign which was held between 1st Dec, 2012 – 31st Dec, 2012
The highlights of the campaign are: – For Every Transaction & unique IMPS user
• Rs. 5 per unit for each unique IMPS user
• Re. 1 for every successful P2A* transaction
• Rs. 5 for every successful IRCTC transaction
• Rs. 250/- e-bay voucher on every 2 successful transactions
- Internet banking scams worsen in Japan (japandailypress.com)
- Ombudsman washes hands of internet banking frauds (thehindu.com)
- IMPS renamed as Immediate Payment Service (simplybanking.wordpress.com)