India Post Payment Bank (IPPB) and Department of Posts has virtually launched a new digital payment app ‘DakPay’ on Monday. “The App is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India,”
Announcing the launch of DakPay, Union Minister for Communications, Electronics & Information Technology Ravi Shankar Prasad, said it added to the legacy of India Post, which was about reaching out to every household.
How to use DakPay
Dak Pay is not just a digital payment App but also you use many banking services along with this. It is the 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 & with UPI), enabling 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) and Chairman of the IPPB Board said DakPay would bring simplified payment solutions to all by offering access to banking and payment products and services either through an app or in assisted mode with the help of the trusted postmen and women.
India Post Payments Bank has crossed the milestone of 3 Crore accounts in less than 2 years of its launch. I want to congratulate the entire team of @IndiaPostOffice for this achievement.#AapkaBankAapkeDwar#DakPay pic.twitter.com/XIS0fdNhJb
— Ravi Shankar Prasad (@rsprasad) June 13, 2020
DakPay is a suite of digital financial and assisted banking services provided through the postal network to cater to the financial needs of various sections of society, particularly those living in rural areas. The services include free-of-cost money receipts and transfers at doorsteps and scanned QR codes, to make payments for a range of utility and banking services.
The bank has been set up with the vision to build the most accessible, affordable, and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising 155,000 Post Offices (135,000 in rural areas) and 300,000 Postal employees.
As of November 30, DakPay had 3.9 crore customers and aggregated digital transactions of over ₹41,954 crores. All IPPB service channels are available in 13 languages.
The Department of Posts on Tuesday also signed a memo of agreement with CSC e-Governance Services India Limited to set up “Common Service Centres” in more than 10,000 post offices. The centers will deliver over 100 services.