India Post Payment bank (IPPB) will provide doorstep banking services to all its customers who have registered for the same during on boarding process through its wide network of Postmen and Gramin Dak Sevaks. Since the doorstep banking will be carried out through Aadhaar authorization, this facility will be provided only to those customers who have opened their accounts through eKYC and have a registered mobile number. There are many similarities between Department of Post (DoP)’s financial products & IPPB products like saving account & Remittance. Hence, GDS/Postman are already working as financial service provider as part of DoP and they have complete information about the customer available in his/her area so, Postmen & GDS will act a game changer of IPPB.
GDS & Postman are already working as financial service provider as a part of Department of Post, hence they will work some additional in IPPB for facilitating customer toward doorstep service in this reason they will get some honorarium (Incentive & Rewards) from IPPB. Here “How to get Incentive & Rewards from IPPB?”
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- Each GDS/Postman/Postal Assistants need to have an account with IPPB to get the incentive credit. The GDS/Postman can check the accumulated incentive in the Smart Phone at the end of the day.
- The pay out of incentive into the agent’s accounts will happen at a pre-defined frequency (currently planned as a monthly pay out).
- Commission and incentive paid to the DoP and front-line staff is directly linked to the revenues generated through the IPPB transactions.
- Incentives to be paid for each revenue generating activity facilitated by DoP.
- Additional incentives to be given under target-based schemes.
- Account opening o For facilitating opening account of merchant.
- Revenue from Transactions (Bill Payments, Remittances, Cash Withdrawal/Deposit) o Transactions performed at door step or at access points (counters) and for payments such as bill payments, remittances, cash withdrawal etc.
- Revenue from Third party products o For cross-selling and distributing third party products such as loans, insurance, mutual funds etc.