In news
Department of Posts (DoP) and India Post Payments Bank (IPPB) unveiled a new digital payment app ‘DakPay’ at virtual launch event.
Aim
To Transform Banking Experience at the last mile
Highlihgts
- The App is launched as part of its ongoing efforts to provide Digital Financial inclusion at the last mile across India.
- DakPay is double strength of service offerings in the form of online payments and home delivery of financial services.
- 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.
- 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.
Services
- (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.
India Post Payments Bank
- India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India.
- IPPB was launched by the Prime Minister Shri Narendra Modi on September 1, 2018.
- The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India.
Source: PIB
