New Delhi: India Post Payments Bank (IPPB) marked its ninth Foundation Day on September 1 by launching a digital payment device for merchants and two new platforms aimed at expanding access to insurance and investment services.
The bank introduced the DakPay Sound Box for Merchants, designed to simplify digital payment acceptance, along with a Digital Insurance Technology Platform connecting customers with Life, Health and General Insurance opportunities. It also launched a Digital Mutual Fund Platform to provide customers with a simpler digital route to mutual fund investments.
The new offerings expand IPPB’s services beyond basic banking and digital payments towards insurance, investments and broader financial security.
IPPB’s Key Milestones
As of March 31, 2026, the bank reported:
- 13.25 crore customers across India.
- 77% of customers were from rural areas, while 49% were women.
- Customer deposits stood at ₹29,104 crore.
- Digital financial transactions reached ₹21.61 lakh crore, including ₹7.41 lakh crore in UPI remittances.
- Around 6.5 crore Direct Benefit Transfer (DBT) beneficiaries received benefits worth approximately ₹1.55 lakh crore.
- IPPB processed 12.06 crore Aadhaar Enabled Payment System (AePS) transactions, involving disbursements of ₹36,140 crore.
- 29.43 lakh Digital Life Certificates were issued to pensioners.
- The bank facilitated 9.47 crore Aadhaar mobile updates and 1.35 crore Bal Aadhaar enrolments.
Three New Digital Offerings
DakPay Sound Box: The merchant-focused device is intended to make digital payment acceptance easier by providing payment-related audio confirmations.
Digital Insurance Technology Platform: The platform will provide customers access to insurance opportunities across the Life, Health and General Insurance segments.
Digital Mutual Fund Platform: The new platform is designed to offer customers an accessible digital investment experience for mutual fund services.
New Savings Products Introduced Over the Past Year
IPPB also highlighted three savings account variants rolled out during the previous year:
- SHG Savings Account: Designed for Self Help Groups and rural micro-entrepreneurs.
- Surakshit Savings Account: Includes ₹25,000 cyber-insurance protection against phishing, spoofing and SIM-jacking, along with the benefits of a Premium Savings Account.
- Sampoorna Savings Account: Combines Aarogya wellness benefits and Surakshit cyber protection with the features of a Premium Savings Account.
Expanding Last-Mile Financial Access
Established on September 1, 2018, IPPB operates under the Department of Posts, Ministry of Communications, with 100% equity owned by the Government of India.
The bank uses the India Post network to provide banking and financial services at the last mile. Its operating network includes approximately 1.65 lakh post offices, of which around 1.40 lakh are in rural areas, along with nearly 3 lakh postal employees.
IPPB said its technology-enabled model is aimed at making banking more accessible through paperless, cashless and presence-less services. The bank currently provides services in 13 languages and reaches more than 13 crore customers across 5.57 lakh villages and towns.
MD & CEO R. Viswesvaran said the foundation-day launches mark an expansion of the bank’s technology capabilities to make digital payments, insurance and investments simpler and more accessible to citizens.
With the new platforms, IPPB is positioning its extensive postal network as a channel not only for everyday banking and government-linked financial services, but also for wider digital access to insurance and investment products.
