India Post Payments Bank Launches Digital Payment App DakPay

Delhi: India Post Payments Bank (IPPB) along with Department of Posts (DoP) on Tuesday launched digital payment application ‘DakPay’ to facilitate easy digital transactions and other banking services.

“The app is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India,” the Ministry of Communications said in a statement.

The app ‘DakPay’ comes with a slew of features which include digital financial and assisted banking services provided by India Post & IPPB through the trusted Postal (‘Dak’) network.

Through ‘DakPay’, customers can send money to others by implementing Domestic Money Transfers – DMT, scanning QR code as well as and make payment for services/merchants digitally through virtual debit card and with UPI.

Union Minister for Communications, Electronics & IT 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.

“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.” Said J Venkatramu, MD & CEO, India Post Payments Bank.