DakPay: New digital Payment App
Part of: GS Prelims and GS-II – Governance & GS-III – Infrastructure
- Department of Posts and India Post Payments Bank unveiled a new digital payment app 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.
- 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.