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 1^st 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.

Axis Bank - Mohur Sliver Bars-- Extension of the Mohur Brand

7 bits of info on the Mohur Brand.

1. The first launch was the Gold coins with Assay certification of being 24 carat and 99.99% purity.
   
   
2. The Mohur Gold Bars are offered at the counter at its 1,400 plus branches located across the country.
   
   
3. In March 2012, the Mohur Brand was extended to Silver Bars, with the launch of Mohur Silver Bars.
   
   
4. The Mohur Silver Bars are 24 carat, imported from PAMP (Produits Artistiques Metaux Precieux) Switzerland, carry a 99.99% purity Assay certification and are packaged in a tamper proof cover.
   
   
5. During the stabilization phase, the Mohur Silver Bars in 100gm denomination will be available for sales at its branches in major cities of Mumbai, Delhi, Kolkata, Chennai, Bangalore, Hyderabad and Ahmedabad.
   
   
6. In the near future, other cities will also be covered.
   
   
7. The rectangular Silver Bars can be purchased by all Axis Bank /non-Axis Bank customers either by Cash, Credit/Debit Card or through Account debit.

The rate of Silver in India of the last 10 years can be read at this Blog