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UPI vs IMPS

Both UPI and IMPS send money instantly between Indian bank accounts. UPI identifies the receiver by a UPI ID or QR code, while IMPS uses the bank account number and IFSC code.

When to use which

  • UPI: quick payouts when you have the receiver's UPI ID
  • IMPS: when you have bank account number and IFSC
  • EazuPay supports both for payouts
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Last updated: 30 October 2026