India Post Payments Bank launches digital payments’ services DakPay – Here are the benefits

New Delhi: Department of Posts (DoP) and India Post Payments Bank (IPPB) on Tuesday unveiled a new digital payment app ‘DakPay’. 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 & IPPB through the trusted Postal (‘Dak’) network across the nation to cater to the financial needs (‘Pay’) of various sections of the society.

It allows 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.

Cabinet Minister for Communications, Electronics & Information Technology and Law & Justice  Ravi Shankar Prasad appreciated India Post Payments Bank’s efforts during fight against Covid-19 by providing doorstep financial assistance through AePS leading to financial empowerment of the unbanked and the underbanked.