Unified Payment Interface (UPI) & IMPS Switch
24x7 Interbank transfers and complete UPI ecosystem integration
A unified platform for instant real-time inter-bank transactions combining IMPS and UPI functionalities, providing robust payment solutions for banks and merchants.
OVERVIEW
What is Unified Payment Interface (UPI) & IMPS Switch?
LCode Technologies' UPI & IMPS Switch is a single platform that connects a bank to NPCI for real-time interbank payments over IMPS and UPI. It supports all IMPS message types (P2A, P2P, P2U, P2M) over a socket-based channel with automatic log-on to the NPCI gateway, and includes a Version 2.0 certified UPI Switch and PSP App.
LaunchedIMPS Switch 2014, UPI 2016
Who it's for
- Banks that need to connect to NPCI for 24x7 IMPS and UPI payments
- Banks offering a UPI PSP app to customers
- Banks enabling merchant payments and collect requests
CAPABILITIES
What Unified Payment Interface (UPI) & IMPS Switch can do
24x7 inter bank fund transfers from multiple channels
Communicates with NPCI on a socket-based channel
Handles auto log on to the NPCI gateway
Handles inward payments and reversal in exception cases
Auto authorize payment for regular payments
MODULES & APIS
KEY FACTS
Unified Payment Interface (UPI) & IMPS Switch at a glance
| Specification | Detail |
|---|---|
| IMPS message types | P2A, P2P, P2U, P2M |
| NPCI connectivity | Socket-based channel with auto log-on to the NPCI gateway |
| UPI certification | Version 2.0 certified UPI Switch & PSP App |
| UPI pay to | Mobile number, account number & IFSC, or VPA |
| Exception handling | Inward payments and reversals in exception cases |
| Launched | IMPS Switch 2014 · UPI application 2016 |
| LCode company certifications | ISO 9001:2015 · ISO 27001:2022 · PCI SLC (Secure Software Lifecycle) |
COMPARISONS
Unified Payment Interface (UPI) & IMPS Switch: comparisons and reference tables
| Aspect | IMPS | UPI |
|---|---|---|
| Operated by | NPCI [1] | NPCI [1] |
| Infrastructure | Runs over NPCI's National Financial Switch [3] | Launched 25 August 2016; under NPCI's UPI procedural guidelines, UPI transactions settle through IMPS [2][3] |
| What it is | An instant, 24x7 interbank electronic fund transfer service [4] | An instant payment system that lets customers pay and collect using a virtual payment address [2] |
| How the beneficiary is addressed | Mobile number and MMID, account number and IFSC, or Aadhaar number [4] | A Virtual Payment Address (VPA), or account number and IFSC [2] |
| Requesting money | Merchant-initiated (pull) P2M payments alongside customer-initiated (push) payments [4] | Pay (push) and collect (pull) requests [2] |
| In LCode's switch | All IMPS messages (P2A, P2P, P2U, P2M), socket-based NPCI channel, auto log-on, inward payments and reversals, UTR storage for mobile banking transactions | Version 2.0 certified UPI Switch and PSP App: pay to mobile, account and IFSC, or VPA; collect requests; merchant payments and reports |
Numbers in brackets refer to the sources listed at the end of this page. The last row describes LCode's product.
| Message type | Meaning | How the beneficiary is identified |
|---|---|---|
| P2A | Person to Account | Beneficiary account number and IFSC [4][5] |
| P2P | Person to Person | Beneficiary mobile number and 7-digit MMID [4][5] |
| P2M | Person to Merchant | Payment to a merchant, initiated by the customer (push) or by the merchant (pull) [4] |
LCode's switch supports all IMPS messages: P2A, P2P, P2U and P2M. IMPS transfers can also be addressed using the beneficiary's Aadhaar number, which acts as the financial address [4][5]. Numbers in brackets refer to the sources listed at the end of this page.
FAQ
Unified Payment Interface (UPI) & IMPS Switch: frequently asked questions
FURTHER READING
Learn the concepts behind Unified Payment Interface (UPI) & IMPS Switch
GuideWhat is a UPI switch?Read the guide →REFERENCES
Sources cited on this page
- Payment and Settlement Systems: Overview, Reserve Bank of India
- Unified Payments Interface – Procedural Guidelines, National Payments Corporation of India (NPCI)
- Digital Banking Updates (UPI and IMPS), Indian Institute of Banking & Finance (IIBF)
- Updates for Retail Banking (IMPS section), Indian Institute of Banking & Finance (IIBF)
- IMPS, Central Bank of India