IMPS Online Casinos

Indian online casino players are among the top most frequently active players across international online casinos, despite the lack of local payment solutions to use in the past. However, when IMPS appeared across these casinos, Indian players were relieved, as this solution made all of their dreams come true. With it, they can make interbank transfers of funds in the most robust and effortless way, with just a few taps on their smartphones. Designed to modernize and facilitate the way Indians transact online, the solution became one of the most popular payment options across the nation, and that's why soon after it launched, it was offered across most online casinos that accept players from the country. If you're one, searching for the best method to use for your online casino deposits and withdrawals, continue reading to find out all about it. What is IMPS and why decide to use it at an Indian online casino?

About IMPS

The situation with online transactions in India was not ideal over a decade ago, since citizens were not given many options to obtain instant transactions, especially when it came to transactions via the banking system. With only RTGS and NEFT at their disposal at the time, which took days to process transactions, Indians were desperate for a more modern and robust payment solution to appear. NPCI (the National Payment Corporation of India) heard their desperate cries and made sure to launch a solution that would facilitate their online transactions, the Immediate Payment Service or what we know as IMPS.

Headquartered in Mumbai, NPCI first made sure to launch a pilot study on the participating banks UBI, ICICI, Yes Bank, Axis, BOI, SBI and HDFC and mobile payment systems, to see how they will work together, with aims to develop an innovative and modern payment solution that would allow users to make instant transactions via their mobile devices and their online banking profiles. The project was a success, and that's why Smt. Shyamala Gopinath, DG RBI signed on it and gave NPCI the green light to launch it. And that's when IMPS was launched, in 2010, through the standard banking system and became an option for all Indian citizens.

Allowing users to make fund transfers in real-time, 24/7, via the interbank system, the solution picked up in the blink of an eye. Solving the major obstacle users had been facing for years, it was an instant hit, allowing them to move money instantly from one account to another via their mobile devices, internet banking, and other channels like SMSs and ATMs. That’s why more than 700 Indian banks and Prepaid Payment Instrument (PPI) providers are offering it as a service, to millions of Indians.

Given the fact that it is a service, a banking payment instrument, with a license from the Reserve Bank of India, you can rest assured that all giant Indian banks are offering it to their customers. Financial institutions that want to offer it to their customers must integrate with it, but you, as the user, only need to go through a few simple steps to start using it. As long as you have a smartphone, you’re pre-equipped with what’s needed to get started with it. You won’t be sharing bank account details with eCommerce sites upon payments, only your mobile phone number.

That's what the aim of the solution was from the very beginning: to take mobile-based banking services to Indian users and make their online banking the most effortless possible. IMPS was among the first such solutions to appear which offered exactly what the Reserve Bank of India asked in its Payment Guidelines for mobile systems, begging mobile network providers and banks to become interoperable to give Indians access to mobile-based banking functionalities and services.

To conclude this segment, we must mention that all transactions with the solution would be incredibly well-protected and your money will be in safe hands. Each transaction, as an authentication tool, is marked with a unique code and shared across the standard banking system. So, if already convinced that this is a solution you'd like to try out, you'll be happy to hear that it is already offered across most Indian-facing online casinos, due to the many perks it offers. You won’t need to waste too much of your time to find the one you’d like to join, so stay with us to learn how to get started with it, to start using it across the best Indian casinos right away!

How to Start Using IMPS

You've probably hinted at the few criteria you must meet in order to be eligible to use this impeccable service. Naturally, you must be an Indian citizen and a bank account holder. And then, you must have a smartphone and have your online banking profile up and running, and preferably your bank’s app already installed on your device.

But don’t worry; as long as you are an Indian with a bank account and a mobile device, you can easily get the other two sorted out. So, if you don’t have your online banking profile ready, visit your bank and activate it. If you don’t have your bank’s app installed, download it and install it in a few simple steps. While at the bank, make sure you get your Mobile Money Identifier number (MMID), a 7-digit number that the bank clerk will give you, along with an MPIN, to give you access to the service. In addition, check with the clerk whether your bank offers the service via SMS, and if yes, you can later use SMS to complete transactions. After your bank's app has been installed on your device, you're good to go.

To request a transaction via the service, you need to access the app and select IMPS as the service you'll use to complete a transfer or use the SMS facility to send the funds. Then, you need to provide the operator’s mobile phone number and MMID and set the amount you wish to send. Finally, you’d need to enter the MPIN in the designated field and tap Send. In no time, you’ll get an SMS confirming the success of the transfer with a transaction reference number. Save this number just in case you need it and that’s it. Your transaction is immediately processed and the funds reach your casino balance in a few minutes. In fact, let’s go over the exact steps you’d need to make to transact successfully with it across online casinos in the next segment.

Depositing and Withdrawing with the Solution

The number of online casino brands that enter India continues growing, so will find at least three dozen of online casinos that offer IMPS and accept players from India at the moment. Parimatch and Betandyou are just some of the excellent sites you could access to use the solution for your deposits and withdrawals, so just explore your options and decide on the one to join.

Register an account with the casino of your preference, and then select the Indian rupee as your default currency. From here, to successfully make your first deposit with IMPS, do the following:

1. Locate the Payment Methods page on your casino player profile.
2. Find the Deposits tab and select IMPS as your payment method.
3. In the new window, select your bank.
4. Repeat the steps we elaborated on in the previous section.
5. Wait for the SMS confirmation and watch the funds arriving on your balance instantly.

Given the fact the service uses the Indian standard banking system and functions thanks to the collaboration between mobile providers and banks, IMPS works for withdrawals, too. To request a withdrawal, log into your casino player profile, select the service, and set the amount you want to cash out. Enter your mobile phone number and MMID and wait for the casino to go through its part of the deal. Once the operator approves the withdrawal request, you will receive an SMS informing you that your funds have reached your bank account safely.

Coverage and Restrictions

The service is restricted to India only, but that’s obvious, having read what you have so far. We never mentioned other countries, and the solution was designed for Indians, so there’s that.

So, to use it, you must be an Indian citizen with an active bank account with any of the over 700 partnered banks and PPIs, and one that has a smartphone. No other users can get access to its service.

Fees and Additional Charges

We cannot sugarcoat the fact that there will be fees involved when transacting with IMPS, but that was expected, considering this is an interbank system.

The fees, of course, will be charged on the banks' part, and the decision on how high these fees would be for the remittance service would lie in their hands alone. But, considering the solution is considered one of the most affordable to use, you can rest assured that the fees won't be high.

Accepted Currencies

The Indian rupee, of course, would be the only currency you’d be able to use when transacting with the solution.

Licensed by the Reserve Bank of India, the solution must process transactions in rupees only, to adhere to the laws and rules. But this is not an issue for you; quite the contrary, it's a perk, considering most casinos that offer the solution also allow you to select the rupee as your default currency. Meaning, that with it, you won't be paying extra charges, you won't be paying currency conversion fees.

Customer Support

Considering this is basically a service launched by NPCI and offered by your bank, it does not offer a Support service itself. But, you always have your bank’s Support agents on your team.

Plus, you can always go to NPCI’s official website and explore more about the service, or even get in touch with NPCI’s Customer Support agents in case you have some questions that need answers. For problems or questions about transactions, you better get in touch with your bank, to get more proper assistance.

Conclusion

IMPS is one of the most popular payment solutions among Indian users, and as you can see, there are many reasons why. It is easy to get started with, used for deposits and withdrawals across many online casinos and is quite convenient and cost-efficient to transact with. So, if you still haven't tried it, your loss: make sure you do as soon as you can!

FAQs

Can I contact someone over the phone to get assistance with IMPS transactions?

Sure. You can always get in touch with your bank’s Support agents over the phone, and even your casino’s representatives, as they both usually offer phone lines for contact.

Which are some of the banks that offer IMPS?

In addition to the partnered banks we mentioned here, you also have Standard Chartered Bank, Punjab National Bank, Indian Bank, the Central Bank of India, and Union Bank of India, among plenty of others.

Do transactions with the solution come with limits?

Except for SMS and IVR, there's a general 5 Lakh limit for all transaction channels, but individual banks may impose their own limits, too. So, get in touch with your bank's team to find out more about the limits that are set for transactions via the service.

Can I use IMPS if I am unbanked but still an Indian citizen?

As a matter of fact, there’s a chance for you to use the solution. You would need to be a user of a solution that holds a Prepaid Payment Instrument license, like a wallet, for example. You can discover more about PPIs on the IMPS page on NPCI’s official website.

Do I need to update my phone number if I change it?

Sure, since the solution relies on your phone number to identify your bank account and complete the transaction. You would need to visit your bank to update your mobile phone number, as this number is your ID when using the service and is essential for transactions with it to succeed.