Beyond UPI Limits: Now Just Use a Phone Number and Name for Seamless IMPS Transfer

In a bid to enhance the convenience of digital payments, the National Payments Corporation of India (NPCI) has implemented a groundbreaking rule. This rule eliminates the requirement to input the recipient's account number or IFSC code when conducting Immediate Payment Service (IMPS) transfers. The move marks a significant stride in simplifying the digital payment process, making it more user-friendly and efficient for individuals engaging in financial transactions.

With this simplified process, IMPS transfers become even more convenient and time-saving for users. The traditional hassle of entering lengthy account details is eliminated, streamlining the overall transaction experience. This improvement not only enhances efficiency but also promotes a more accessible digital payment ecosystem, encouraging broader participation and adoption among users.

Now, users can effortlessly transfer funds of up to ₹5 lakhs by simply providing the recipient's phone number and name. This user-friendly approach is particularly advantageous in scenarios where individuals may not have access to or are unaware of the recipient's complete bank account details. The NPCI's innovative initiative not only aligns with the growing demand for seamless digital transactions but also addresses practical challenges, making financial interactions more straightforward and inclusive.

How To Make IMPS Transfer

To initiate an IMPS transfer using this updated method, follow these straightforward steps:

• Launch your UPI app, like Paytm, PhonePe, or BHIM.
• Choose the "IMPS" option from the menu.
• Input the recipient's phone number and name.
• Specify the amount you wish to transfer.
• Review the transaction details and confirm the transfer.
• That's all! The funds will be swiftly transferred to the recipient's account.

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This user-friendly approach, allowing transfers of up to ₹5 lakhs with just a phone number and name, not only responds to the growing demand for seamless digital transactions but also ensures financial inclusivity by addressing practical challenges.