Collections

Mobile Collection (IMPS)

Fast track your receivables on the go anytime, anywhere- 24x7x365

Collect payments from your customers instantly with the new DBS Mobile Collection channel called IMPS (Immediate Payment Service). Through this facility, your receivables get credited to your bank account within seconds of transfer by your payer through any of the options of website, mobile app, sms or ussd from their mobile instruments. IMPS provides enhanced mobility and convenience through seamless transactions without any payment delays.

 

Why choose DBS Mobile Collection?

  • Shorter receivables cycle. Facility available throughout the year even on Sundays and bank holidays with instant credit of payments to your account
  • Simple and easy to implement with an easy to understand on-boarding process
  • Enables additional collections channel for your business
  • Automated reconciliation sent to both you and your payer with transaction details. MIS reports are customizable in varying formats based on your requirements
  • Receive funds instantly. We offer guaranteed receipt of funds within seconds of transaction
  • Enjoy significant cost reduction by avoiding high processing and administrative costs associated with cheque and cash collections
  • Avoid risks associated with paper-based payments. Examples include cheques returns, fraudulent encashment, and counterfeit notes
  • DBS provides its stamp of safety. Be assured of data confidentiality and highly sophisticated data encryption technology to ensure secure transfers

FAQs

What is IMPS?

Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service through mobile phones. IMPS facilitates customers to use mobile instruments as a channel for accessing their banks accounts and remitting funds there from in a secured manner with immediate confirmation features.

What is MMID? How do I get it?

MMID stands for ‘Mobile Money Identifier’. It is a 7 digit MMID unique code issued to you by your bank to enable you to avail of IMPS when you have to receive money. You will have different MMID's for different accounts; however, all these can be linked to a single mobile number registered with DBS Bank.

 

How do I Apply?

Simply visit us at any of our Branches and our Relationship Manager will be glad to assist you.

Awards
Awards

Best Asian International Transaction Bank 2013, awarded by Asian Banker

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