UPU and Eurogiro sign agreement
The UPU and Eurogiro signed yesterday an agreement to interconnect their networks to exchange postal payment services.
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| Edouard Dayan, Director General of the UPU, and Armin Brun, chairman of Eurogiro’s board of directors, at UPU headquarters signing the UPU - Eurogiro interconnection agreement. |
The UPU’s International Financial System network facilitates the exchange of postal payment services among the Posts of its member countries. Eurogiro facilitates the provision of financial services and payment exchange solutions among its customers, which include Posts, postal financial institutions and banks.
The parties will now work on a pilot project to ensure that such interconnection is both technically and operationally feasible.
The project’s aim is also to certify that, when put in place, services would comply with the principles and requirements defined in the UPU’s international treaty, the Postal Payment Services Agreement and its Regulations.
One hundred and seventeen UPU member countries are signatories of this treaty, which defines the type of services (cash-to-cash, cash-to-account, account-to-cash and account-to-account) and quality of service Posts must offer to their customers, among other things.
64 posts, postal financial services and banks around the globe are today exchanging payments using the Eurogiro network, service level agreements and settlement services.
The two networks could be interconnected by mid-2011, assuming the pilot is successful.