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Monday, April 9, 2012

IMPS – March 2012 Volumes




It was nice to see the jump in IMPS (Interbank Mobile Payment Service) volumes for March 2012, as compared to February 2012.

The Customers as well as the respective IMPS member banks seem to slowly getting a grip on the process flow.

All the member banks have great information about the IMPS process flow on their websites.
Such information increases the confidence levels of the customers to try out IMPS for their ePayments.

During April 1st week, as there quite a few Bank Holidays, customers must have been greatly benefited by IMPS.

A focused marketing approach by the member banks, will increase the recall levels of IMPS, and nudge them towards IMPS.

NPCI (National Payments Corporation of India) has made a beginning by conceptualizing the IMPS Video and displaying on its website.

6 benefits of a focused marketing campaign:
  1. Increase in customer awareness.
  2. Increase in brand recall.
  3. Encourage customers to enquire with their respective Banks about the IMPS facility.
  4. Encourage customers to shift part of their traditional Payments to IMPS.
  5. Effective ROI for Banks for their investment in the IMPS infrastructure.
  6. Increase in disputed transactions, which will enable NPCI and the Banks to fine-tune the process flow.

In the near future, NPCI might launch a marketing campaign for IMPS.

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