Definition : Mobile Money Identifier
Category : Business » Banking
Country/Region : India India
Popularity :

What does MMID mean?

Mobile Money Identifier (MMID) is a seven digit unique number issued by the bank to its customer on registration for Immediate Payment Service (IMPS). IMPS is an real time inter-bank electronic fund transfer service through mobile phones. IMPS can be used to transfer and receive funds using the registered Mobile number and MMID or Account number and Indian Financial System Code (IFSC). IMPS service is available 24x7, throughout the year including Sundays and any bank holidays.