Homework Help: Questions and Answers: IMPS (Interbank Mobile Payment Service) is a funds transfer service through ___________?
a) Mobile phones /Internet banking/ATM
b) National Unified USSD Platform
c) Aadhar Enabled Payment System (AEPS)
d) Aadhar Payments Bridge System
Answer:
First, let’s understand what IMPS is and its characteristics: IMPS stands for Interbank Mobile Payment Service and its key characteristics are
- It’s a funds transfer service
- It’s instant
- It works between banks
Given Options: Step by Step Answering
a) Mobile phones / Internet banking / ATM:
- IMPS primarily operates through mobile phones and internet banking, allowing customers to make instant fund transfers using these platforms.
b) National Unified USSD Platform:
- This is another platform for banking services but not specifically the primary channel for IMPS.
c) Aadhar Enabled Payment System (AEPS):
- This is a banking service based on Aadhar, not specifically related to IMPS.
d) Aadhar Payments Bridge System:
- This is a different system used for subsidy and benefit transfers, not for IMPS.
Final Answer
Based on the above analysis, the correct answer is:
a) Mobile phones / Internet banking / ATM
IMPS is primarily a mobile-based system, but it has expanded to include internet banking and ATM channels as well, making option (a) the most comprehensive and accurate answer.
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