Montran successfully implemented the Immediate Payment Service (IMPS) real time payment solution for both a top public sector bank and a leading private sector bank in India, marking a double milestone in revolutionizing real-time payment systems.

The IMPS real-time payment service, a payment rail launched by NPCI, facilitates inter-bank domestic fund transfers and foreign inward remittances to beneficiaries. A channel-agnostic system, the IMPS solution caters to diverse user preferences by offering multiple channels for fund transfers. The system ensures widespread accessibility by operating seamlessly on mobile and internet banking platforms, ATMs, SMSs, and other convenient banking methods.

A module of Montran’s Transaction Processing Hub, Montran’s xml-based IMPS Switch seamlessly integrates with multiple channels, catering to retail as well as corporate customers. The IMPS Switch facilitates Straight-Through-Processing for IMPS transactions (P2P, P2A and foreign remittances), along with multiple features such as, account posting, narrations, alerts, cycle-wise reconciliation, consumption, and status updates based on the NPCI RAW file and MMID generation/validation.

Built on Spring Boot and microservice technology, the system ensures a future-ready, efficient, and adaptive solution for the financial ecosystem.

By empowering financial businesses with speed, security, and real-time payment capabilities, Montran’s IMPS solution ensures a future-ready, efficient, and adaptive solution for the payment ecosystem.

About Montran

Montran is the leading provider of securities market and payments infrastructure solutions, serving over 80 countries with mission-critical facilities and operations. Discover more at https://www.montran.com.