DakPay – India Post Payments Digital App Launched

DakPay, the new digital payment app from India Post Payments Bank was launched in a virtual event on Tuesday by India Post Payments Bank (IPPB) and Department of Posts (DoP). This is part of the Centre’s initiative to offer digital financial services across the nation. 

DakPay will cater to the financial requirements of different sections of the society, in terms of Domestic Money Transfers – DMT and for making payments to merchants and services. It will serve as a Virtual debit card with UPI,  and will enable cashless transactions through biometrics.

Ravi Shankar Prasad, Union Minister for Communications, Electronics & IT and Law & Justice, during the launch event congratulated the India Post Payments Bank’s endeavor in the fight against Covid-19 by offering doorstep financial assistance through AePS. He said this will empower the underbanked to utilize the virtual financial ecosystem the Modi government has strategize in the last few years.

He 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. 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 AatmaNirbhar Bharat.”

Shri Pradipta Kumar Bisoi, Secretary (Posts) & Chairman, IPPB Board said, “Dak Pay 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. Dak Pay is truly an Indian solution designed to address the financial needs of every Indian”.

Mr. J Venkatramu, MD & CEO, India Post Payments Bank, said on the occassion “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.”