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Govt Mulls Tie Up Between India Post Payments Bank and WhatsApp: See What’s on Cards


The central government is mulling a tie up between the India Post Payments Bank and leading messaging platform WhatsApp to offer a host of banking and financial services, a report has said. In a bid to keep up with the digital age, the government may also consider a collaboration between India Post and WhatsApp, to offer even better services within everyone’s reach. The potential move by the government is aimed at providing better services to the customers of the India Post Payments Bank, who will then not have to go all the way to the branch to get basic work done.

IPPB WhatsApp Tie-Up: Services to be Offered

As per a report by the Economic Times quoting people in the know, the initial collaboration between the payment bank and the messaging giant will offer customers services “such as checking account balance and option to request the opening of a new bank account”. Launched in 2018, the IPPB is a public limited company where the central government has 100 per cent stake. It is set up as a payments bank under the Department of Posts.

“A pilot project will be run over the next 60 days with services of IPPB such as balance enquiry, request for a new account, changing pin and passwords being tested out,” ET reported quoting the people cited above. They further said that a select number of customers will also be provided with services including request for cash withdrawal and deposit, Aadhaar-to-Aadhaar transfer, update permanent account number (PAN) and Aadhaar number and manage account beneficiaries.

Noting the challenges faced in rural areas while providing these services, a senior government official said that it was important to make sure that “there is no fraudulent withdrawal by anyone other than the rightful beneficiary of the account”.

Presently, the customers of the India Post Payments Bank can access online services via digital banking through the IPPB website or the mobile app. “The addition of WhatsApp will provide another avenue, which is easier for everyone to use,” ET quoted the official as saying.

Post Office Services Through WhatsApp Likely to Take Shape

The report also said that in the future, the government is also likely to join hands with WhatsApp to provide a host of India Post services. If this is implemented, people will be able to do booking courier packages, opening of salary, savings and current accounts as well as disbursal of salaries at the doorstep through the messaging platform. However, these services will be explored in the future, the report added.

Based on the response to this pilot programme, the government will also mull adding other financial services such as  PPF payments, taking loans against recurring deposits and buying insurance through WhatsApp.

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