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DakPay: New digital Payment App

  • IASbaba
  • December 16, 2020
  • 0
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DakPay: New digital Payment App

Part of: GS Prelims and GS-II – Governance & GS-III – Infrastructure

In news

  • Department of Posts and India Post Payments Bank unveiled a new digital payment app DakPay.

Key takeaways

  • 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.
  • 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.

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