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

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New Delhi: Department of Posts (DoP) and India Post Payments Bank (IPPB) on Tuesday unveiled a brand new digital cost app ‘DakPay’. The App is launched as a part of its ongoing efforts to offer Digital Financial inclusion at the final mile throughout India.

DakPay isn’t just a digital cost app however a collection of digital monetary and assisted banking services supplied by India Post & IPPB via the trusted Postal (‘Dak’) community throughout the nation to cater to the monetary wants (‘Pay’) of varied sections of the society.

It permits sending cash to the family members (Domestic Money Transfers – DMT), Scan QR code and make cost for services/retailers digitally (Virtual debit card & with UPI), enabling cashless ecosystem via biometrics, offering interoperable banking services to the prospects 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 throughout combat towards Covid-19 by offering doorstep monetary help via AePS resulting in monetary empowerment of the unbanked and the underbanked.



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