No, UPI and IMPS are not the same as they are two entirely different payment systems developed by NPCI (National Payments Corporation of India) to offer convenient electronic payment systems in India. The main difference is that UPI uses a virtual payment address to transfer funds instantly without the recipient's account details. On the other hand, to avail of IMPS service, it is essential to have the account number and IFSC code of the recipient's bank account.