NEW DELHI: The rush to grab a pie of the rapidly growing digital payments market has not been limited to the private sector.
On Tuesday, the Department of Post (India Post) and its banking arm India Post Payments Bank (IPPB) rolled out their own payments application called DakPay— a platform offering a wide range of services including door-step banking.
Union Minister for Communications, Electronics & IT Ravi Shankar Prasad launched the app, pointing out that this only adds to India Post’s legacy of reaching 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 departments will be another big leap towards Prime Minister’s vision of a financially inclusive and an Aatmanirbhar Bharat,” he said.
The platform will facilitate services such as sending money, scanning QR codes for payments to merchants digitally-either through virtual debit cards or with UPI, and making payments for services, and to merchants, digitally.
It will also provide interoperable banking services to the customers with any bank in India.
Postal Secretary and IPPB board Chairman Pradipta Kumar Bisoi pointed out that the platform will offer all customers access to banking and payments products and services-either through the app or in assisted mode with the help of the “trusted Postman”.