Nagaland

India Post Payments Bank launches DakPay app similar to Google pay, PhonePe

DakPay was launched by India Post Payments Bank (IPPB) of India Post as part of its ongoing efforts to provide Digital Financial inclusion at the last mile during the Meghdoot Award Function 2020 today, December 15

Kohima, December 15 (NEx): The DakPay mobile app similar to Google Pay and PhonePe apps, was launched by India Post Payments Bank (IPPB) of India Post as part of its ongoing efforts to provide Digital Financial inclusion at the last mile during the Meghdoot Award Function 2020 today, December 15, 2020 in the Conference Hall of MeitY, Electronics Niketan, CGO Complex, New Delhi, by the Department of Posts.

The Function was graced by Shri Ravi Shankar Prasad, Minister of Communications, Law & Justice and Electronics & Technology as the Chief Guest and Shri Sanjay Dhotre, Minister of State for Education, Communications and Electronics & Technology as Guest of Honour. All the Chief Postmaster Generals and Meghdoot awardees were present in the function via video conference. The Meghdoot award is given every year for excellence in postal service.

The Chief Guest, Shri Ravi Shankar Prasad, Minister of Communications, Law & Justice and Electronics & Technology, hailed the launch of DakPay app as an important step in Digital Revolution and hoped that it will become an effective payment platform in competition with the best in the market. He expressed that just as AePS has brought banking services to the door step, the DakPay will go a step further in providing ease of payment for various e-commerce and business activities.

All about DakPay:

DakPay is 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), making payment for services/merchants digitally (Virtual debit card) & UPI, enabling cashless ecosystem through biometrics, providing interoperable banking services to the customers of ANY BANK (AePS) and Utility Bill Payment services.

DakPay UPI app allows users to create UPI ID and link multiple accounts across banks in a single mobile app. The app facilitates instant money transfers, QR based payments in merchant stores and online shopping on e-commerce websites.

Meanwhile, during the function, a memorandum of Understanding was also signed by Department of Posts with CSC e-Governance Services India Limited. This will give a flip to setting up common service centres in more than 10,000 Post Offices across the country for providing various G2C (Government to Citizen) and B2C (Business to Citizen) services to citizens in rural and remote areas of the country thus enabling the Government’s mandate of a socially, financially and digitally inclusive society.

The B2C (Business to Citizens) Services offered includes Bharat Bill Payment System Bills (Electric, Gas, Water bills etc.). The services also include Third Party Services such as EMI (Equal Monthly Instalment) collections for various loans offered by financial institutions and submission of online application forms for loans. Travel services such as Ticket booking service for Flight, Train and Bus Tickets would be available.

(With inputs from PIB)