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16/12/20 10:20 AM IST

DakPay

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

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