New UPU Study To Help Redefine Organization's Role In Postal Financial Services

ISLAMABAD, (UrduPoint / Pakistan Point News - 19th Sep, 2021 ) :A new study entitled Postal Financial Services Vision 2030 is to be undertaken by the Universal Postal Union (UPU) to review, reassess and redefine its role and position in the postal financial services (PFS) sector, as well as its relations with posts, policymakers and regulators.

The study, which is currently in the planning stage, will be undertaken over a six-month period.

Sergey Dukelskiy, Coordinator of PFS and Financial Inclusion at the UPU, commented, "Through this study, the UPU wishes to assess the relevance and effectiveness of its treaty framework and supporting functions in relation to postal payment services and, in more general terms, postal financial services.", said a press release.

The study has five main goals. First it will assess the nature of PFS, including postal payment services, offered in UPU member countries in the context of prevailing market trends and public policy objectives, including, but not limited to, financial inclusion, e-commerce development, small and medium-sized enterprise growth and the United Nation's Sustainable Development Goals.

"The study will also identify the key regulatory challenges faced by posts in the provision of PFS, identify potential areas where the UPU can support posts in the provision of PFS, and identify any shortcomings associated with the UPU's current treaty framework as it pertains to PFS, as well as the UPU's associated PFS activities," Dukelskiy added.

The final goal of the study is to prepare policy and strategy recommendations for the UPU to update its current PFS treaty framework and associated support services and to offer market-relevant PFS to the benefit of Union member countries and their designated postal operators.