‘DakPay’ app will cater the financial requirements of several sections of the society

The app will not only give access to banking services and postal products online, but also is a unique concept where one can order and avail postal financial services at doorsteps

India Post Payments Bank (IPPB) and The department of Post (DoP) have jointly launched a new digital payment pp virtually, known as the “DakPay’. The official statement reads, “The App is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India.”

While launching the app virtually, Ravi Shankar Prasad,Union Minister for Communications, Electronics & IT and Law & Justice, said “India Post stood the test of times by serving the nation through various postal services digitally and physically during nationwide lockdown. Launch of DakPay adds up to the legacy of India Post, which is about reaching out to every household.”

The minister added, “This innovative service will not only give access to banking services and postal products online, but also is a unique concept where one can order and avail postal financial services at doorsteps. I strongly believe that this double strength of service offerings in the form of online payments and home delivery of financial services combined with a nationwide network of the postal departments will be another big leap towards the Prime Minister’s vision of a financially inclusive and an AatmaNirbhar Bharat.”

The unique features of the app are as follows:

  • DakPay is not just a digital payment app but a suite of digital financial and assisted banking services provided by India Post and India Post Payments Bank (IPPB) through the postal network across the nation.
  • It will cater to the financial needs of various sections of society.
  • You can send money to your loved ones (Domestic Money Transfers – DMT)
  • Scan QR code and make payment for services/merchants digitally (Virtual debit card and with UPI).
  • It will enable a cashless ecosystem through biometrics, providing interoperable banking services to the customers of any bank (AePS) and Utility Bill Payment services.
  • Pradipta Kumar Bisoi, Secretary (Posts) & Chairman, IPPB Board said, “Dak Pay is truly an Indian solution designed to address the financial needs of every Indian”.

“Our motto is – Every customer is important, every transaction is significant and every deposit is valuable,” said J Venkatramu, MD & CEO, India Post Payments Bank.

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