India Post Payments Bank launches digital payment service DakPay, here is a comprehensive guide on how to use it
The DakPay app will help in enabling cashless ecosystem through biometrics, providing interoperable banking services to the customers of ANY BANK (AePS) and Utility Bill Payment services.
Department of Posts (DoP) and India Post Payments Bank (IPPB) have launched a new digital payment app, ‘DakPay,’ on December 15, 2020. The app will help in providing Digital Financial services at the last mile across India. The app comes with a suite of digital financial and assisted banking services offered by India post and IPPB using Postal (‘Dak’) network across India to cater to the financial needs (‘Pay’) of various sections of the society.
The app can be used to send money to others, scan QR codes and make payments for merchants and service providers digitally. One can link it to an individual’s bank account and use the Unified Payments Interface (UPI) to make payments. The app enables a dedicated UPI ID linked to the bank account. This app will help in “enabling cashless ecosystem through biometrics, providing interoperable banking services to the customers of ANY BANK (AePS) and Utility Bill Payment services.”
During the launch event, Union Minister Ravi Shankar Prasad appreciated the efforts made by India Post Payments Bank during the Covid-19 pandemic to provide financial assistance through AePS at the doorsteps of the customers. It helps in financially empowering unbanked and underbanked citizens of India.
Ravi Shankar Prasad, Union Minister for Communications, Electronics & IT and Law &Justice, said, “India Post stood the test of times by serving the nation through various postal services digitally and physically during nationwide lockdown. Launch of DakPay adds up to the legacy of India Post which is about reaching out to every household.” He further added that he believes that the services offered in the form of online payments and home delivery of financial services combined with a nationwide network of Postal department will be another big leap towards Prime Minister’s vision of a financially inclusive and an AatmaNirbhar Bharat.
Pradipta Kumar Bisoi, Secretary (Posts) & Chairman, IPPB Board said, “Dak Pay brings simplified payment solutions to all by offering all customers access to the banking and payments products and services either through an App or in assisted mode with the help of the trusted Postman.”
J Venkatramu, MD & CEO, India Post Payments Bank, said, “The unveiling of DakPay is a landmark achievement in IPPB’s journey and will further deepen comprehensive financial inclusion to bring forth the dawn of a ‘Truly Inclusive Financial System’.”
About India Post Payments Bank
On September 1, 2018, Prime Minister Narendra Modi launched the India Post Payments Bank (IPPB). It comes under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India. The aim of the digital bank with Post Office is to build the most accessible, affordable and trusted bank for the common man in India. The Postal network comprising 155,000 Post Offices (135,000 in rural areas) and 300,000 Postal employees provides strength to the digital banking system by the Post Office. People can connect their IPPB bank account or any other bank account listed in the app and uses the funds available in it to make payments via the app.
How to use ‘DakPay’
If some has used similar payment services like BHIM, Paytm or Google Pay, they must be aware of the steps needed to follow to link their own bank account with such apps. The process of creating an account and linking it to the bank account is much easier, quicker and seamless in DakPay. Also, unlike Paytm or Google Pay, DakPay is 100% owned by the Government of India, giving it a sense of security. Here is a step by step process of how to use ‘DakPay’.
First of all go to the Google Play Store and download DakPay app from this link.
Once it is installed, open the app. The app will ask you to grant two permissions to access your location, and the second one is to make and manage phone calls. Both permissions should be granted.
In the next step, after the first-time welcome screen, you will be asked to grant permission to the app to access your messages. By granting this permission, you will be able to read and fill the OTP without leaving the app.
Once you allow the app to do so, you will see a signup form. One of the most interesting aspects of this app is that they have included transgender people in the form, making it easier for them to get included in the banking system.
In the next step, the app will ask you to add your bank from the list of banks. It is a comprehensive list of banks and almost all the banks that offer UPI services are listed in the app. You can either scroll down to find your bank or you can write your bank’s name in the text area ‘Select your Bank Name’.
Once you have chosen the bank in which you have an account, it will look for the account linked to your mobile number.
After linking your account to the app, it will show you the newly created UPI ID. In case you want to add a new ID, you can click on the ‘+’ icon at the bottom right corner of the app.
The next screen will show you some suggestions and give an option to choose your UPI ID. Once it is done, it will ask you to link the UPI ID with a bank account that you have already added to the app. You can add multiple accounts in the app.
Once linked, it will show you both the newly created and the allotted UPI ID in the list. You can also use the app to change the UPI pin. Click on the three dots on the UPI ID and then click on Change UPI PIN.
In case you want to check the balance in your bank account, click on the ‘Refresh’ next to ‘Available Balance’ and enter your UPI PIN. It will show you the balance in your linked bank account.
How to transfer funds?
On the main screen of the app, you will find an option of Pay/Transfer. You need to click on it. In the next step, a form will appear where you can choose how you want to send funds. The three options are UPI ID/AC, own transfer and Contacts. In UPI ID/AC, you can either send money to someone using their UPI ID or bank account details, i.e. Name, Bank Account Number and IFSC code. If anyone from your contact has created a DakPay profile, you can send them money using the contact list.
Add UPI ID and click on Verify. The name of the receiver will appear under the UPI ID. Add amount and remarks (if any). If you have added more than one bank accounts, you can choose the one you want to use by clicking on the arrow on the right bottom. Click on Continue. It will show you the details of the funds to be transferred, the account you are using, and amount etc., on the next screen. Now click Confirm. Enter your UPI ID and click on the ‘Tick mark’ on the right bottom. It will show you the transaction details and ask if you want to add the payee to your beneficiary list. If you add them, it will be easier to send them funds in future.
How to pay using QR code scanner?
Click on the ‘Scan and Pay’ at the centre bottom. It will ask you to permit taking pictures and recording videos if you are doing it for the first time. The scanner will appear from where you can scan the QR code. You can also use the images from your gallery.
If you want to receive payments from someone, you can use your QR code for that purpose. To generate your QR code, click on the Burger Menu icon on the screen’s top right corner. Then click on ‘My Bhim UPI QR.’ It will show your QR code that you can download by clicking on the down arrow sign under the QR code or share it directly using the share icon next to it.
More features will follow soon
The UPI Apps like BHIM, Google Pay and PayTM offer many discounts and offers for using them. As DakPay is new, on may not find any offers for some time. However, the main aim of the app is to provide cashless financial services to the remote areas of the country, which other apps may not possibly provide due to lack of infrastructure. As Post Office has an extensive network already across India, it will be much easier for DakPay to become one of the most preferred payment apps in the coming days, especially for the rural areas.