State Bank of Travancore (SBT) has launched an Inter-Bank Mobile Payment Service (IMPS) for transferring money among bank accounts using mobile phones and the mobile banking facility. This facility enables a customer having a mobile banking facility to transfer funds to the account of any other beneficiary, either with the same bank or with another bank, using a mobile phone, on a 24x7 basis.
The beneficiary should have a unique seven-digit number known as the mobile money identifier (MMID) assigned by his/her bank, which is linked to the account and the mobile phone number.
Meanwhile, SBT has also launched a ‘Know Your Customer’ (KYC) updating campaign for 30 days starting June 1, 2012.