What is Zolo IMPS transfers & how does it work?

Zolo IMPS transfer is a new (and free) mode of making payments to Zolo. These payments are made to virtual bank accounts uniquely created for each Zolo tenant. You can add this account as a payee through NetBanking login of your Bank's app or through apps like Google Pay and Phone Pe & make online payments via IMPS. This is similar to how you transfer money to someone. Zolo will auto detect once the payment is successful & settle any outstanding dues within 24 hours.