According to a report, the central government is considering a partnership between the India Post Payments Bank and the leading messaging platform WhatsApp to provide a variety of banking and financial services.
In order to keep up with the digital age, the government may consider collaboration between India Post and WhatsApp in order to provide even better services to everyone. The potential government move is intended to provide better services to India Post Payments Bank customers, who will no longer have to travel to the branch to complete basic tasks.
IPPB WhatsApp Tie-Up: Services to be offered
The initial collaboration between the payment bank and the messaging giant will provide customers with services “such as checking account balance and the option to request the opening of a new bank account.” The IPPB, which was established in 2018, is a public limited company in which the central government owns 100%. The Department of Posts has established it as a payments bank.
A pilot project will be run over the next 60 days with IPPB services such as balance enquiry, request for a new account, changing pin and passwords being tested out. It is also stated that a limited number of customers will be able to request cash withdrawal and deposit, Aadhaar-to-Aadhaar transfer, update permanent account number (PAN) and Aadhaar number, and manage account beneficiaries.
Noting the difficulties encountered in providing these services in rural areas, a senior government official stated that it was critical to ensure 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
According to the report, the government is also planning to collaborate with WhatsApp in the future to provide a variety of India Post services. If this is implemented, people will be able to use the messaging platform to book courier packages, open salary, savings, and current accounts, and disburse salaries at their doorstep. However, these services will be investigated in the future, according to the report.
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.
