IMPS Transfer & MMID - Mobile Money Identifier..!!

MMID- Mobile Money Identifier

The Mobile Money IDentifier (MMID) is the key identifying detail of a user participating in a transaction. An MMID is a seven-digit number given to a customer upon registration with a bank for the service. In the seven digits of the MMID are four digits used to identify the bank of the user and three digits used to identify the account of the user.

A mobile number and a MMID will uniquely identify a customer’s account with the respective bank. The design of the MMID allows customers to operate multiple bank accounts linked to a single mobile number; each bank account has its own MMID. Additionally, since the MMID of the payee must be entered along with the payee's mobile phone number, it serves to reduce the possibility of an erroneous transaction when the payer inadvertently enters an incorrect mobile number.

The MMID is not intended to be a secret – it is simply an identifier and it does not give away any sensitive information about the customer. For example, a merchant will advertise his mobile number and MMID publicly in order to receive payments from the customers.

Why MMID

Today we can transfer money to any account using the bank account number and IFSC  through the NEFT and RTGS. But these two methods of money transfer has the limitation. The NEFT and RTGS doesn’t work round the clock. To overcome this problem the IMPS was devised.

It was thought that a mobile number can’t be shared with more than one person. No two person can have the saem mobile number. Hence, this number can be used to identify a person and his bank account. Banks generally keep the mobile number of their customers. It would make the money transfer possible without knowing bank account number.

But, this idea had a problem. One mobile number can be linked to many accounts. How would the system know the exact account number? To deal with this hurdle, the concept of MMID came. An MMID can be used only by one bank account. You can’t have same MMID with two bank accounts.

Now, when we use a mobile number and MMID both, we get to know the exact account. This combination has made the IMPS a successful mobile banking platform. The UPI is also based on this IMPS platform.

How To Get MMID

Now We know that each account can have an MMID. But banks don’t tell you MMID automatically. It gives only when you ask for MMID. Generally, It is given along with the mobile banking kit. The MPIN is also part of this kit. To get the MMID and MPIN, you have to activate the mobile banking.

You should know MMID to get money through mobile banking while MPIN is necessary to transfer money through the mobile. To get an MMID, you should be registered for mobile banking.

Registration for Mobile banking

Normally there are four ways of mobile banking registration.

1. You can visit the bank branch and fill the form of mobile banking. You would get the MMID and MPIN at your mobile or communication address.
2. You can also go the bank ATM and opt for mobile banking. After the confirmation, you get the SMS containing MMID and MPIN.
3. You can also use the mobile app of the bank to generate the new MMID.
4. You can also use the internet banking facility of the bank to generate MMID.

These are the common ways of getting MMID. However, I am presenting the specific method of getting MMID from SBI and ICICI Bank.

How To get MMID from SBI

• The SBI customers get MMID with the welcome kit.
• Customers  can also get MMID by visiting branch and filling form.
• SBI customers can generate MMID through the SBI anywhere app. Go to  IMPS- Generate MMID.
• Customers not registered for Mobile Banking Service can register their mobile number at SBI ATM to get MMID for the primary account linked to the ATM card:

Swipe your Debit Card > Select Mobile Registration> enter ATM PIN > Select SMS /Secure Code / IMPS > enter your mobile number > Confirm.

• Customers not having ATM card / Customers having more than one account, can visit their Branch and apply for MMID, by filling up a form.

7 digit MMID number will be sent to you over SMS on the mobile number used for registration.

How To Get MMID from ICICI Bank

The ICICI Bank has these three ways to get MMID.

1. iMobile Application
   Go to iMobile on your mobile phone >> Go to smart keys and services >> account services >> show MMID >> Your 7-digit MMID will be displayed.
2. USSD
   Dial *525# >> ICICI Bank Mobile Banking menu will appear. Enter 7 for More Services >> Enter 4 for Generate MMID >> Enter the last 4 digits of the account number for which MMID needs to be generated >> Your 7-digit MMID will be displayed.
3. SMS
     SMS MMID [space] [last 4 digits of your account number] to 9222208888 >> You will receive an sms carrying your 7-digit MMID for the bank account.

How To Use MMID for Fund Transfer

The combination of mobile number and MMID is the replacement of account number and IFSC code of the payee. If you know the MMID and mobile number of the pay you don’t need anything else to transfer the money. The MMID is used when we go through the IMPS platform of fund transfer. The other two platforms are NEFT and RTGS.

The IMPS mode of fund transfer works on net banking, mobile applications and USSD service of GSM phones. It means you can input MMID when you transfer money through the mobile app, USSD, and net banking. You would get the option of MMID. Note,  you should go through the IMPS to use the MMID. The UPI system is also based on IMPS. However, it uses the virtual payment address in place of MMID and mobile number. It is considered as the most advanced method of payment. Besides this, Now you can also pay to a person only by entering his/her Aadhaar number. It is called as the Aadhaar Enabled payment system.