Using UPU’s standards, Haypost and Russian Post launch new money transfer system in CIS region
Haypost CJSC, Armenia’s national postal operator, and Russian Post, today launched a new, modernized money transfer service in the two countries. The transfer system uses standards adopted by the Universal Postal Union (UPU).“A number of designated operators have adopted the PosTransfer trademark since it was launched in 2015, but the first real PosTransfer branded corridor was launched today. We look forward to strengthening cooperation by having more countries launch PosTransfer corridors in the near future,” said UPU Financial Services and Financial Inclusion Coordinator Sergey Dukelskiy. Using the common brand PosTransfer, the transfer system will be available in more than 800 Armenian post offices and at 30,000 service points across the Russian Federation.
The transfer system will offer financial services to individuals living in the remotest areas of Armenia and Russia.
On 16 June, the International Day of Family Remittances, the UN Secretary-General António Guterres said, “I call on all stakeholders to take steps to reduce remittance transfer costs, provide financial services for migrants and their families – particularly in rural areas – and promote financial inclusion for a more secure and stable future.”
Due to the ravages of the COVID-19 pandemic, it is expected that global remittances to developing nations will collapse by USD 110 billion in 2020.
Money transferred using the new system will be available for receipt in online mode in any connected post office. This is in accordance with the standards, unique for all the member countries and adopted by the UPU.
PosTransfer is a trademark designed to increase the profile of designated operators in the competitive market of electronic money transfers, associating electronic postal payment services with a trustworthy, cost-effective and efficient service The UPU introduced PosTransfer in 2015 and the brand is a trusted trademark and part of an effort to build worldwide trust and recognition for electronic postal payment services, notably among migrant workers seeking reliable and low-cost remittance services for sending money home to families. This revitalized postal service is now registered in over 110 countries, and is based on real-time technology and high-quality standards thanks to linking postal operators to an interconnection platform that is a central hub for the UPU’s International Financial System - a software application designed for the real-time exchange of international electronic postal money orders. Posts using the trademark also have access to a set of promotional materials developed by the UPU so that they can advertise and market the brand to their customers.
The Universal Postal Union is a UN specialized agency with its headquarters in the Swiss capital Berne. Established in 1874, it is one of the world’s oldest international organizations and is the primary forum for cooperation between postal sector players.
For further information, please contact:
Universal Postal Union (UPU)
Mobile: +41 79 548 96 70