Who will be the major client of Yes Bank IMPS-MPS?

IMPS-Merchant Payment Service pilot launch with Yes Bank

            Yes Bank was one of the banks who were in the Pilot Launch of IMPS in November 2010. Taking this tradition forward, Yes Bank has also joined the Pioneer Club for the IMPS Merchant Payment Service.

            Yes Bank joined the IMPS Merchant Payment Service last month i.e August 2012. With this, Yes Bank would now be able to offer this new ePayment mode to their ‘Cash Management Services’ clients.

IMPS-MPS will be beneficial for Accounts Receivables more than Accounts Payables teams.

            HSBC, State Bank of India, Canara Bank, ICICI Bank, Kotak Mahindra Bank, Union Bank of India are the banks which are already online with IMPS-MPS.

            State Bank of India’s’ major client is IRCTC. HSBC’s major client is Reliance Mutual Fund. With reference to other banks, at present, no information is available in the public domain.