May 14, 2021 6:14 am
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India Post Payments Bank launches ‘DakPay’

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As part of its ongoing efforts to provide digital financial inclusion at the last mile across India, the Department of Posts (DoP) and India Post Payments Bank (IPPB) have unveiled a new app ‘DakPay’, an official statement said.

‘DakPay’ is not just a digital payment app but a suite of digital financial and assisted banking services provided by India Post & IPPB through the trusted Postal (‘Dak’) network across the nation to cater to the financial needs (‘Pay’) 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 & with UPI), enabling cashless ecosystem through biometrics, providing interoperable banking services to the customers of ANY BANK (AePS) and Utility Bill Payment services, added the statement.

Speaking at the virtual launch of ‘DakPay’ recently, Ravi Shankar Prasad, Union Minister for Communications, Electronics and IT, and Law and 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. 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.”

He added, “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 Aatma Nirbhar Bharat.”

Also present on the occasion, Pradipta Kumar Bisoi, Secretary, Posts and Chairman, IPPB Board said, “DakPay’ brings simplified payment solutions to all by offering all customers access to the banking and payments products and services either through an app or in assisted mode with the help of the trusted postman. ‘DakPay’ is truly an Indian solution designed to address the financial needs of every Indian”.

J Venkatramu, MD and CEO, IPPB, said, “The unveiling of ‘DakPay’ is a landmark achievement in IPPB’s journey and will further deepen comprehensive financial inclusion to bring forth the dawn of a truly inclusive financial system. Our motto is — every customer is important, every transaction is significant and every deposit is valuable.

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