The provision of basic postal financial services contributes significantly to global economic and social development and plays an important role in improving living standards.
The postal sector is able to play a key role in the payments market and the financial inclusion of populations, diminishing consumer risk related to the usage of informal networks and money laundering.
According to a UPU study, postal operators provide some 1.5 billion people worldwide with access to basic financial services (payments, money transfers, and savings).
Financial inclusion is the provision of basic financial services (savings, payments, money transfers, insurance, credit) to people without access to such services.
The postal network comprises more than 663,000 physical contact points offering remittances and is traditionally a more affordable formal financial services channel compared to banks, money transfer operators and others.