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Postal Financial Services (DOT)

Conference on Development of Postal Financial Services in Africa Global Electronic Postal Payment Network OUGADOUGOU BURKIN FASO. Postal Financial Services (DOT).

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Postal Financial Services (DOT)

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  1. Conference on Development of Postal Financial Services in AfricaGlobal Electronic Postal Payment NetworkOUGADOUGOU BURKIN FASO Postal Financial Services (DOT)

  2. The UPU – an Intergovernmental Organization and UN specialized agency is responsible for coordinating postal activities in 191 countries The UPU treaty has enabled exchanges of postal payment services since 1878 UPU Strategic Vision for 2009-2012 aims to develop a worldwide electronic postal payment network which includes providing a response to the increase in migration development worldwide, not only North-South but South-South Contribute to fulfilling Millennium development Goals including eradication of poverty 1. Vision and Strategy for Postal Payment Services

  3. 1.1 Vision and Strategy for Postal Payment Services • Provide all citizens with access to efficient, reliable, secure and affordable electronic fund transfer services • Focus on migrants’ remittance corridors • Further develop the Worldwide electronic payment network: • Facilitate electronic connection between all UPU postal operators • The International Financial System (IFS) The end-to-end UPU IT solution provided for electronic postal payment services • Interconnection with other networks The UPU Eurogiro Bridge

  4. 2008 Nairobi Congress Priorities for Postal Financial Services: Linking Physical, Electronic and Financial “networks” Postal Financial Services Development Development of the Multilateral Framework Creation of the UPU Clearing and Settlement system Collective Trademark of the Electronic PPS Quality-linked remuneration System 1.2 Vision and Strategy for Postal Payment Services

  5. 1.3 Vision and Strategy for Postal Payment Services • Posts own a strong retail network (more than 660.000 postal outlets) • For migrants transfers of remittances, the retail network is the key element of the value chain • The Posts have developed their own UPU solution (since 2000) – the International Financial System (IFS) which is a standard software facilitating the offer of both domestic and international postal money orders within: • UPU Standard M38 for electronic Postal Money Orders with strong security • Link with ISO (TC68, ISO 20022-UNIFI)  convergence of standards • 4 products: cash, accounts, ordinary, urgent • Track and trace capability The IFS is an affordable tool and is adapted especially to the needs of developing and least developed countries

  6. 2. Remittances Inflow - Regions World Number of Immigrants: 215,8 million 3.2% World population 48.4% Females 7.6 % Refugees Officially recorded remittances in 2009 (estimated 2010) World: $ 416bn ($440 bn) To developing countries: $ 307 bn ($ 326 bn) East Asia & Pacific: $ 85 bn ($ 91 bn) Europe & Central Asia: $ 35 bn ($ 37 bn) Latin America & Caribbean: $ 57 bn ($ 58 bn) Middle-East& North Africa: $ 34 bn ($ 37 bn) South Asia: $ 34 bn ($ 35 bn) Africa: $ 51 bn ($ 54 bn) 70 countries: more than 1 bn; Informal channels: > 50% Source: The World Bank

  7. 2.1 Remittances Inflow – Africa Region Top Remittance recipients in Africa region (% GDP): • Lesotho 24.8 • Togo 10.3 • Cape Verde 9.1 • Guinea-Bissau 9.1 • Senegal 9.1 • Gambia 7.9 • Morocco 6.6 • Liberia 6.2 • Sudan 5.6 • Nigeria 5.6 • Kenya 5.4 • Tunisia 5.3 • Egypt 4.0 • Djibouti 2.7 Source: The World Bank

  8. 3 Major Priority Financial Inclusion • Share of population living in small cities and rural area (Sub-Saharan Africa): more than 80 % • Percentage of post offices placed in small cities and rural area: more than 80 % (6.45 times more than the biggest private remittances provider) • 40% of remittance flows are sent to rural areas • UPU Priority : • Connecting “Unconnected” people and small-and medium-size cities and villages • Regional Development Project for Africa 2011-2012

  9. 3.1 Regional Development Plan Regional Development Plan – Africa Region • Objectives • Encourage the countries of the region to participate in the project • Develop corridors and prepare service agreements • Open an extend corridors in the region • Extend service to rural post offices • 11 Countries involved over a period of 2 years (2011 to 2012)

  10. 3.2 Cooperation with International Organizations Cooperation with international organisations - Creation of remittance services in developing countries and rural areas 1. UPU-IOM East Africa pilot project • Number of countries: 2 case studies • Total inhabitants for both: 69 m • Inhabitants in rural areas: 54 m • Access to remittances (IFS): 20 post offices (1st year)‏

  11. 3.3 Cooperation with International Organizations Cooperation with international organisations - Creation of remittance services in developing countries and rural areas 2. UPU-IFAD African regional project • Number of countries: 6 • Total inhabitants: 43,5 m • Inhabitants in rural areas: 28,7 m • Access to remittances (IFS): 396 post offices (1st year)‏

  12. 4. UPU’s WEPN The Worldwide Electronic Postal Payment Network Coverage (WEPN) • 49 countries currently in production • 1 country prepared to go live • 10 in a test status • Strong coverage areas: • CIS countries Arab region • West & East Africa • Latin America • India & South East Asia • South Europe

  13. 4.1 UPU’s WEPN Algeria (IFS) Armenia (STEFI) Australia (IFS) Azerbaijan (STEFI) Belarus (STEFI) Benin (IFS / Light) Burkina Faso (IFS) Cameroon (IFS) Chad (IFS / Light) Chile (IFS) China (People's Republic) (STEFI) Congo (Republic) [Congo Brazzaville] (IFS / Light) Côte d'Ivoire (Republic) (IFS) Djibouti (IFS) Ecuador (IFS) Egypt (IFS) Estonia (IFS) France (IFS) French Polynesia Gabon (IFS) India (IFS) Jordan (IFS / Light) Kazakhstan (STEFI) Kenya (IFS) Korea (IFS) Lithuania (STEFI) Madagascar (IFS) Mali (IFS / Light) Mauritania (IFS / Light) Moldova (STEFI) Morocco (IFS) New Caledonia - France (IFS) Niger (IFS / Light) Peru (IFS) Russian Federation (STEFI) Rwanda (IFS / LIGHT) Senegal (IFS) Spain (STEFI) Tajikistan (IFS / Light) Tanzania (United Republic) (IFS) Togo (IFS) Tunisia (IFS) Uganda (IFS) Ukraine (STEFI) United Arab Emirates (STEFI) Uruguay (STEFI) Uzbekistan (IFS / Light) Vietnam (IFS / Light)

  14. 4.2 UPU’s WEPN – Project Development Plan Tasks to be fulfilled by DO before project start • Legal • Postal Payment Service Agreement signed • Project commitment • Challenges • Bilateral agreement • Financing and Resources • Potential corridors • Evaluation of corridor potential volumes • Prioritization • System (only for new corridors)

  15. 4.3 Future Interconnections

  16. 5. Conclusions: Moving Forward Revenue from the offer and diversification of Postal Financial Services will continue to increase and contribute to global and nationwide economic development, and more specifically postal development UPU’s development activities will continue to promote postal financial inclusion in the rural areas, including those of Africa Increasing number of challenges and opportunities for pursuing the expansion of the worldwide electronic postal payment services and network (ex. through mobile postal payments, microfinance, account to account, etc.) - Priority to opening of new corridors and exchanges April 2011 POC Session to take a position on proposals to be presented to the 25th UPU Congress in 2012 We are looking forward to your contributions and active participation

  17. Thank you for your attention We are at your service and are looking forward to work with you Alexandre Rodrigues Postal Financial Services Expert International Bureau of the UPU Tel: +41 31 350 32 47 / Fax: +41 31 350 31 10 alexandre.rodrigues@upu.int

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