Bank transfers & instant payments · Available
IMPS / NEFT
IMPS is India's real-time interbank transfer service, run by NPCI since 2010 and available around the clock; NEFT is the Reserve Bank of India's batch transfer system, settling every half hour, day and night. At checkout the payer transfers the amount to a virtual account number shown by the provider, the provider matches it and confirms; there are no chargebacks, and the same rails carry payouts to any Indian bank account.
Key facts
- Countries
- India
- Currencies
- INR
- Operations
- Pay-in · Payout
- Settlement
- instant
- Chargebacks
- not possible
How a payment goes through
- 1The checkout shows the account details, the amount and a reference
- 2The payer sends the transfer from their banking app
- 3The provider matches the incoming transfer by reference and amount
- 4Webhook to the merchant; unmatched transfers are refunded
How a payment goes through
- The checkout shows a virtual account number and IFSC assigned to the payer, with the amount.
- The payer sends an IMPS or NEFT transfer from their banking app or net banking.
- The provider matches the transfer, within seconds for IMPS or in the next NEFT batch, and confirms.
- Tranzify writes the result and calls the merchant’s webhook.
IMPS and NEFT against UPI
UPI is the everyday rail for small payments from a phone; IMPS and NEFT are the account-to-account rails behind it, with higher limits and no app in the loop. The method is live in the catalogue.
| IMPS | NEFT | UPI | |
|---|---|---|---|
| Run by | NPCI | Reserve Bank of India | NPCI |
| Speed | seconds | half-hourly batches | seconds |
| Hours | 24/7 | 24/7 since 2019 | 24/7 |
| Limit per transfer | 5 lakh rupees per NPCI, lower at some banks | set by the bank | set by the app and the bank |
| Chargebacks | none | none | none |
| Payouts | yes | yes | yes |
Payouts and refunds
Payouts: yes, to any account number and IFSC in rupees, by IMPS or NEFT, through SurfGate and Razorpay. Refunds: no; a return is a separate payout by the client. Recurring: no.
Who uses it
E-commerce and retail, fintech and neobanks, marketplaces and platforms, education: tuition, seller settlements and any business that pays out to Indian bank accounts.
How to connect
- 1Onboard with Tranzify and get your network, keys and back office.
- 2Enter your account with the provider in the terminal settings — Tranzify already speaks its API.
- 3Add routing rules: countries, currencies, amounts, BIN ranges, priorities and weights.
- 4Go live. Every payment, callback and retry is in the journal for five years.
Providers offering this method
Industries
Frequently asked questions
Why offer a bank transfer next to UPI?+
How fast is confirmation?+
Are refunds possible?+
Related methods
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