Department of Posts & India Post Payments Bank unveil new digital payment app 'DakPay'
Department of Posts (DoP) and India Post Payments Bank (IPPB) on Tuesday unveiled a new digital payment app DakPay at a virtual event.
Department of Posts (DoP) and India Post Payments Bank (IPPB) on Tuesday unveiled a new digital payment app DakPay at a virtual event. The App is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India.
DakPay is not just a digital payment app but a suite of digital financial and assisted banking services provided by India Post and IPPB through the trusted Postal network across the nation to cater to the financial needs of various sections of the society.
The release described the various services provided by Dakpay as, "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".
Launching it, Communication and IT Minister Ravi Shankar Prasad appreciated India Post Payments Bank's efforts in the fight against COVID-19 by providing doorstep financial assistance through AePS leading to the financial empowerment of the unbanked and the underbanked.
He said the launch of DakPay adds up to the legacy of India Post which is about reaching out to every household. He added that 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.
This innovative App will help people transfer and receive money with ease and those who do not have smartphones can also do money transaction on this App with the assistance of postmen.