'DakPay' is double strength of service offerings in form of online payments, says Ravi Shankar Prasad
Dec 16, 2020
New Delhi [India], December 16 : The Department of Posts (DoP) and India Post Payments Bank (IPPB) unveiled a new digital payment app 'DakPay' on Tuesday which has been launched as part of its ongoing efforts to provide digital financial inclusion at the last mile across India.
On the app launch event, Union Minister for Communications Ravi Shankar Prasad appreciated India Post Payments Bank's efforts during the fight against COVID-19 by providing doorstep financial assistance through AePS leading to the financial empowerment of the unbanked and the underbanked.
"DakPay is double strength of service offerings in the form of online payments and home delivery of financial services... I want the postal department to start thinking new, innovative, and big. I will personally compliment if any employee implements an innovative idea. Even if Gramin postman implements any innovative idea, it should be implemented at the national level," he said.
Prasad said that the 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 a nationwide network of Postal department will be another big leap towards the Prime Minister's vision of a financially inclusive and an AatmaNirbhar Bharat," the Union Minister added.
According to the Ministry of Communications' release, DakPay is not just a digital payment app but a suite of digital financial and assisted banking services provided by India Post and IPPB through the trusted Postal ('Dak') network across the nation to cater to the financial needs ('Pay') of various sections of the society - be it 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.
