DakPay: India Post Payments Bank rolls out its digital payments’ services

The India Post payments Bank (IPPB) and the Department of Posts (DOP) virtually launched a new digital payment app ‘DakPay’. As per the official statement, the app has been launched as part of the ongoing efforts of providing Digital Financial Inclusion at the last mile across the country.

While announcing the launch of ‘DakPay’, Ravi Shankar Prasad, the Union Minister for Communications, Electronics & IT and Law & Justice, stated that Indian Post has stood the test of times by serving the country through various postal services physically and digitally during the lockdown. The launch of DakPay adds up to India Post’s legacy, which is about reaching every household in the country.

Taking the vision of PM @narendramodi's financial inclusion and #AatmaNirbharBharat forward, @IndiaPostOffice today launched DakPay - a UPI based digital payments app for inter-bank fund transfers, merchant payments service and also access to various postal products. pic.twitter.com/1OmwpMqFLv

— Ravi Shankar Prasad (@rsprasad) December 15, 2020

What will be the benefit of DakPay?

The service will not only give access to the postal products and banking services online but it will also be a unique concept where one can order and can avail the postal financial services at the doorstep.

This double strength of services which will be offered in the form of online payments and home delivery of financial services combined with the network of postal department nationwide will be another step towards PM Modi’s vision of financially inclusive as well as AatmaNirbhar Bharat.

DakPay: Digital payment app by India Post

DarkPay is a suite of digital payment and assisted banking services by India Post Payments Bank and India Post through the postal networks across the country for catering to the financial needs of various sections of the society such as:

• Sending money to the loved ones (Domestic Money Transfers)

• Scan QR Code and to make payments for merchants/services digitally (with UPI and Virtual Debit Card)

• Enabling a cashless ecosystem through biometrics

• Utility Bill Payment Services and to provide interoperable banking services to the customers of any bank.