PRESS NEWS
Ministry of Communications
India Post Payments Bank launches its digital payments’ services
‘DakPay’, aims to Transform Banking Experience at the last mile
DakPay is double strength of service
offerings in the form of online payments and home delivery of financial
services – Minister Ravi Shankar Prasad
Posted On: 15 DEC 2020 1:58PM by PIB Delhi
Department of Posts
(DoP) and India Post Payments Bank (IPPB) unveiled a new digital payment app
‘DakPay’ at virtual launch event today. The App is launched as part of its
ongoing efforts to provide Digital Financial inclusion at the last mile across
India.
DakPay is not just a digital payment app but a suite of digital
financial and assisted banking services provided by India Post & 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.
At the launch event Minister 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.
Announcing the launch of the “DakPay”, Shri Ravi Shankar Prasad,
Union Minister for Communications, Electronics & IT and Law &Justice
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.
On the occasion, Shri Pradipta Kumar Bisoi, Secretary (Posts)
& Chairman, IPPB Board said that, “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”.
“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 Mr. J Venkatramu, MD & CEO, India Post Payments Bank.
About India Post Payments Bank
ndia 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. The
fundamental mandate of India Post Payments Bank is to remove barriers for the
unbanked & underbanked and reach the last mile leveraging the Postal
network comprising 155,000 Post Offices (135,000 in rural areas) and 300,000
Postal employees.
IPPB’s reach and its operating model is built on the key pillars
of India Stack – enabling Paperless, Cashless and Presence-less banking in a
simple and secure manner at the customers’ doorstep, through a CBS-integrated
smartphone and biometric device. Leveraging frugal innovation and with a high
focus on ease of banking for the masses, IPPB delivers simple and affordable
banking solutions through intuitive interfaces available in 13 languages.
IPPB is committed to provide a fillip to a less cash economy and
contribute to the vision of Digital India. India will prosper when every
citizen will have equal opportunity to become financially secure and empowered.
Our motto stands true – Every customer is important, every transaction is
significant and every deposit is valuable. For further
information on IPPB, visit www.ippbonline.com
RCJ/M
(Release ID: 1680754) Visitor Counter : 2202
India Post Launches Digital Payment App
India Post Payments Bank's UPI App. It's simple, secure and make payments in an instant! Try it from the Google Play Store.
https://play.google.com/store/apps/details?id=com.fss.ippbpsp
Video Link : https://youtu.be/l6XsumnNd_E
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