India Post Payments Bank launches its digital payments' services 'DakPay'

As a part of its ongoing efforts to provide Digital Financial Inclusion at the last mile across India, Department of Posts (DoP) and India Post Payments Bank (IPPB) launched a new digital payment app ‘DakPay’.

Under the 'DakPay' umbrella brand, India Post aims to provide facilities such as checking bank balances; transactions through multiple bank accounts; the payment facility through the IPPB mobile banking application for postal products’ making payments using DakPay virtual debit card; and cash withdrawal and deposit using the Aadhaar-enabled payment system. The government is also contemplating a provision for credit facilities.

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 other bank using AePS and Utility Bill Payment Services.

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.

How to download 'DakPay' app on Android?

• Open Google Play Store on your Android smartphone.
• Search for the term 'DakPay' using the search box.
• Tap on the app named 'DakPay by IPPB' and hit install.
• Once installed, open the app.
• Tap on the next icon.
• If prompted, select the mobile number you would like to link with DakPay.
• Create a profile by entering basic details like name, email ID, date of birth and more
• Follow the on-screen instructions to get access to the DakPay app's features.

As of now, the app is available only for Android users via the Google Play Store. The app should soon arrive on iOS via the Apple App Store.

India Post Payments Bank (IPPB) was launched September 1, 2018 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. About 1.8 lakh postmen and women, and Gramin Dak Sevaks, have been equipped with smartphones and biometric devices to provide doorstep banking services.

As on 30th Nov.2020 , DakPay had 3.9 crore customers and aggregated digital transactions of over ₹41,954 crore. All IPPB service channels are available in 13 languages. 

The Department of Posts also signed a memo of agreement with CSC e-Governance Services India Limited to set up “Common Service Centres” in more than 10,000 post offices. The centres will deliver over 100 services.

"Our motto is - Every customer is important, every transaction is significant and every deposit is valuable," said J Venkatramu, MD & CEO, India Post Payments Bank.