(Pic: Shutterstock)Digital payments firm MobiKwik has set a target of clocking a gross transaction value of Rs 10,000 crore in funds transfer and having over 20 million users in 2019-20. IMPS (immediate payment service) is an instant interbank electronic funds transfer system. Through IMPS, a user can also transfer funds from the digital wallet to the bank account. The company said its “wallet to bank” feature is used by small merchants who accept payments via MobiKwik as well as users who have taken digital loans in their wallets. “We are now targeting Rs 10,000 crore in IMPS GTV and 20-million-plus users to use our IMPS service in 2019-20,” said Upasana Taku, co-founder MobiKwik.

Source: The Telegraph June 10, 2019 19:30 UTC