IMPS is an online payment method in India. This payment system is available with all major banking institutions.
IMPS is used in every e-wallet platform. IMPS allows you to pay through your phone number and your bank account connected to your phone number, while UPI allows you to transfer funds between two various bank accounts through your smartphone. But what is IMPS and what are its advantages and disadvantages in UPI casinos?
Top IMPS Online Casino in India
There are many licensed and reputable gambling platforms that use the IMPS system in India. This is a legitimate method that works well for many people, so it’s beneficial for casinos to adopt it.
Here is the list of top IMPS online casino sites in India:
What is IMPS?
The Indian banking sector has been successful, in innovating and trying to introduce and implement electronic payments to improve the banking system. While paper-based transactions have always dominated the payment systems in India, electronic payments are not lagging behind. Since the introduction of electronic payments in India, the banking sector has witnessed unprecedented growth. One of them is IMPS.
Immediate Payment Service (IMPS) is a service through which money can be immediately transferred from one account to another in the same bank or to accounts in other banks. After registration, both individuals receive a Mobile Money Identifier 7-digit code from the respective banks. To initiate the transaction, the sender needs to enter the registered mobile phone number of the recipient, the recipient's MMID and the amount to be transferred in their mobile banking app.
Once the transaction is successful, the money is credited to the recipient's account instantly. This service is available 24X7. The mobile banking app is also available. Some banks have also begun to ensure this service through their customers' online banking profiles.
Pros & Cons of IMPS
IMPS has a lot of advantages, and here are some of them:
- Digitalization of transferring funds. Consequently, anyone with access to a computer or laptop and an Internet connection can send or receive money without a visit to the bank.
- Most banks have their own mobile banking apps for Android and iOS devices. These online mobile banking apps come with IMPS transmitters. Anyone with an internet-connected smartphone can transfer or receive money even when he or she moves. Thus, banking today is no longer restricted by mobility.
- Today, no one needs to manually visit the bank, stand in queues, and fill in long forms to send or receive money. You can do your banking right from home.
- This payment method is fast. IMPS is fast with the ability to transfer instances.
- IMPS is electronic and therefore saves a lot of paper by eliminating documents. All documentation is done digitally. Naturally, they are environmentally friendly.
- Lack of anonymity. It is regulated by the NPCI. They can track your transactions.
- Some online casinos do not allow transactions using IMPS.
Main Difference Between IMPS and UPI
IMPS and UPI have similar functions, however, they differ from each other. First, the time. Transferring money using IMPS is a longer process than UPI because the users must wait 30 minutes as the funds are transferred only after the recipient has registered. When comes to UPI, there is no need to register. So there is no waiting time.
IMPS is an effective way to pay instantly with the help of smartphones. Taking advantage of smartphones, banks have developed simplified ways to pay various bills which can also be used to transfer funds. IMPS helps customers use cell phones as a means of accessing their bank accounts. Transactions are processed and settled in batches, usually at the end of the day.
Using IMPS, you and the recipient must have an Indian bank account. With the help of UPI, users can easily transfer their Indian bank account and recipients overseas using their UPI ID or virtual payment address.
What Makes IMPS The Best Banking Method For Online Gambling?
Generally, an IMPS offers instant transfers. That is why this banking method is just perfect for online casinos in India. Players can safely play their favourite games such as blackjack, and roulette using this payment method.
So what are the essential benefits of IMPS?
- Fast, instant transactions;
- Cost effective;
- Safeness and security;
- Constant availability.
How To Set Up An IMPS Account For Online Casinos?
If you want to use UPI or IMPS to deposit funds into your casino account, you should set up your UPI/IMPS account. Follow these steps:
Your local bank should append the IMPS service to your valid account.
Then, you will need to provide your bank account number, your MMID and your Aadhaar numbers as well.
After that, toggle at your preferred casino website and connect IMPS to your casino account.
How To Register IMPS Account
With the usage of this system there is no necessity to pass the account verification. Why? Because you have already requested it from your bank. Firstly, register your payment service provider. For the PhonePe submenu, there will be a necessity to provide your Adhaar card number. For Google Pay and Paytm, the process will be different.
Here is how to register an IMPS account:
- Install a mobile banking app on your mobile.
- Register with the bank's mobile banking service.
- Get a Mobile Money Identifier (MMID) and MPIN from the bank.
- Download the mobile banking software (make sure your cell phone is compatible with the app).
- Or use the SMS function on your cell phone if your bank provides IMPS via SMS.
How To Deposit With IMPS
To deposit funds into your casino account:
- On your profile click the "Deposit" button.
- On the new page you will see payment methods such as Skrill, Neteller, Bitcoin, MasterCard and ecoPayz. Select the payment method IMPS/UPI casino India.
- On the new page enter the amount, log in to your wallet, upload a screenshot of the transaction and confirm the payment. Your deposit will be instantly credited to your account.
How to Withdraw From Online Casinos Via IMPS?
In order to make withdrawals follow these steps:
- On your profile tap on the “Withdraw” button.
- The new page is opened and you should choose the” IMPS/UPI casino” payment option.
- In a new small window enter the amount you want to withdraw and start the transaction.
Methods Deposit With IMPS/UPI
Both IMPS and UPI are safe options for making payments although they require the use of safe payment solutions from bank accounts to the casino. Paytm, Google Pay and PhonePe are reliable options for making deposits.
|This is an India-based payment system that requires a 0% charge.||This system uses Google Digital Wallet and universal input on all Google devices.||This market leader digital wallet is like Google Pay and is available in 11 Indian languages.|
The minimum deposit amount using IMPS in India is Rs.1.
Is IMPS Safe?
The transactions that take place in the UPI casino deposit and Immediate Payment Service (IMPS) are absolutely safe. Moreover, they are managed by the National Payments Corporation of India (NPCI). This is a huge advantage and adds extra security for online gamers playing live casino games using this payment method.
The next additional security feature is to add the latest technology called SSL encryption. It is certified by RapidSSL. All users can be confident in these payment portals as all their personal and financial information is secured.
Does IMPS acceptable for many Indian casinos?
Sure. Online casinos in India accept payments coming from IMPS. Anyway, check the availability before registering.
What are the main advantages of IMPS to play casino games in India?
IMPS has many advantages. It is safe, cost-effective, available 24/7, easily accessible, and available on mobile. There are also instant transactions.
Is IMPS safe for Indian players?
IMPS is an efficient and secure service that allows you to instantly transfer funds within banks across India, which is not only secure but also cost-effective.
Is it legal to play at online casinos with UPI payments in India?
IMPS accept transactions only from licensed casino sites. Accordingly, players can be sure of security and legality as well.