UPU Congress focuses on accelerating postal development
Universal Postal Union (UPU) members have agreed to accelerate global postal development by making changes to the funding models of the Quality of Service Fund (QSF). During the ongoing 26th UPU Congress, which is currently taking place in Istanbul, Turkey, members agreed to implement a new funding model which – according to the UPU – will “ensure the sustainability of the QSF for improving the quality of postal services in developing countries”.
Under the new model, the UPU will collect more contributions and build a ‘Common Fund’ that will be used to develop more large-scale global projects for the improvement of ecommerce and postal supply chain capabilities.
Countries also agreed to extend the QSF until 2028.
In a statement issued on Monday (26 September), the UPU said that funding support was also a concern for Congress Committee 5, which examines proposals regarding postal financial services.
The committee debated the UPU’s proposed new vision for postal payment services, which calls for the UPU to set up an interconnection platform to allow designated operators to exchange payment services with wider postal sector players.
This interconnection would be facilitated through the UPU’s International Financial System, an application facilitating the exchange of international money orders.
The goal is to modernize and extend the reach of the postal payments network to promote global financial inclusion through the Post.
“The new vision focuses on bringing an extended range of payment services to all citizens of the world,” said Mr. Abhas, Assistant Director General at India Post.
The UPU noted: “In light of the new vision, the UPU will review necessary changes to the Postal Payments Services Agreement (PPSA), the UPU intergovernmental legal instrument, throughout the 2017 – 2020 work cycle. The changes will be submitted next Congress, after which the new vision will be implemented.”
