India Post Payments Bank launches its digital payments' services 'DakPay'
Dec 15, 2020
New Delhi [India], December 15 : The Department of Posts (DoP) and India Post Payments Bank (IPPB) have virtually unveiled a new digital payment app 'DakPay', an official statement said here on Tuesday.
"The App is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India," the statement said.
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 to cater to the financial needs of various sections of the society - be it sending money to the loved ones (Domestic Money Transfers - DMT), Scan QR code and make payment for services/merchants digitally (Virtual debit card and with UPI), enabling cashless ecosystem through biometrics, providing interoperable banking services to the customers of any bank (AePS) and Utility Bill Payment services.
Announcing the launch of the "DakPay", Union Minister for Communications, Electronics & IT and Law & Justice, Ravi Shankar Prasad 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."
He 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 nationwide network of postal department will be another big leap towards Prime Minister's vision of a financially inclusive and an AatmaNirbhar Bharat."
On the occasion, 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.
