IMPS (Immediate Payment System) is an instant interbank fund transfer service using smart phones. This service is available 24x7x365 for customer. The customer has to register for Mobile Banking Service. Mobile Banking Application consists of Balance Enquiry, Mini Statement and Fund Transfer. Fund Transfer can be done using Mobile Number and MMID (P2P) and using account number and IFSC. Two-factor Authentication for secured transaction using MPIN+OTP or MPIN+TPIN. Mobile Money Identifier (MMID) is a 7 digit number, issued by bank. MMID is uniquely with an Account Number. Customer can link more than one account to the same mobile number. Customer receives SMS after successful transaction.