India Post payment bank to start Digital Payments in Post Offices by April

Indian post office sector getting more digitally interactive by coming months. Department of post said in a statement that, India Post Payments Bank (IPPB) Expansion Programme continues to make brisk progress and a nation-wide roll-out is scheduled beginning April 2018.

”Once the proposed expansion is completed, IPPB will be providing the largest financial inclusion network in the country, covering both urban as well as rural hinterland with ability to provide digital payment services at the doorstep with the help of Postmen and Gramin Dak Sewaks (GDS),” the statement said.

IPPB launched its pilot services in Raipur and Ranchi in January 2017.

IPPB will also enable more than 17 crore active account-holders of Post Office Savings Bank to make interoperable digital payments including the benefit of NEFT, RTGS, UPI and bill payment services.Additionally, the IPPB will enable acceptance of digital payments across post offices in the country in line with the digital payments initiative of the government,” the statement said.