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Eurogiro News
4 I EUROGIRO NEWS
Eurogiro News is a magazine for the promotion of
information, ideas and knowledge within the Eurogiro
community and is published quarterly by:
Eurogiro A/S
Telegade 1, 1.
DK – 2630 Taastrup, Denmark
Editor-in-Chief: Søren Rose
Production & subscription manager:
Hanne S. Basset,
Final editing: February 2013
ISSN: 1727-7450
23 – 25 April 2013
Asian Banker Summit 2013 in Jakarta,
Indonesia
14 – 16 May 2013
Eurogiro Community Meeting in Budapest,
Hungary
20 – 23 May 2013
Global Forum on Remittances in Bangkok,
Thailand
Activity Calendar 2013
Although Eurogiro has made every effort to ensure the
accuracy of this publication, neither it nor any contributor
can accept any legal responsibility whatsoever for
consequences that may arise from errors or omissions
or any opinions or advice given. Statements in adverts
represent advertisers’ views. No part of this publication
may be photocopied or otherwise reproduced without the
written consent of Eurogiro.
Eurogiro is a global payments community. We connect
posts, banks and other payment handlers. The services
we offer allow members to initiate from or disburse to any
payment product in the world. We facilitate a member-
driven cooperation to create business opportunities for
our members. Visit our website:
Eurogiro Asia Pacific representation since 2007 -
retrospect
The Eurogiro office in Singapore was estab-
lished to provide regional support to Asia Pa-
cific members, and further develop business in
the region. In 2011 Eurogiro re-established the
Singapore office as a branch of Eurogiro A/S.
Five years on, Eurogiro has a greater under-
standing of the market dynamics in the region.
In-country meetings, as well as participating in
many banking, payment and postal conferen-
ces and forums, has created a greater aware-
ness of Eurogiro’s capabilities and expanded
current and prospective relationships.
The Eurogiro Asia Pacific Customer Council
was launched in 2008, which created an
advisory council of senior representatives from
Eurogiro member organisations to ensure
that regional needs are met. An Asia Pacific
regional meeting in 2010 in New Delhi, and
another in 2012 in Tokyo, further enhanced
member engagement and business relation-
ships, providing a forum for members and
prospective members focused on the Asia
Pacific region to meet.
Eurogiro has especially built a strong relation-
ship with APPU (Asia Pacific Postal Union) and
its members through the years by participating
as an observer at the annual Executive Com-
mittee meetings and speaking at the Postal Fi-
nancial Services Committee meeting. Through
sponsorship and participation at the annual
Postal Financial Services course conducted by
APPC in Bangkok, Eurogiro has engaged with
postal administrations at many levels to share
best practices and keep abreast of postal
trends and issues.
Key factors to successful business growth
for Eurogiro in the region
The teamwork approach with existing Eurogiro
members to open new payment corridors and
attract new members has been pivotal to suc-
cess in the region. Japan Post Bank, the first
member in the region now connects with over
40 members across the Eurogiro community,
and has been a consistent supporter through
its senior level commitment, engagement
through the Eurogiro Asia Pacific Council and
events such as the recent Eurogiro Commu-
nity Meeting in Tokyo.
Going forward, new payment channels such
as mobile and card are expected to see
accelerated growth in the region. Overall it re-
mains the Eurogiro model that uniquely brings
together the largest community of postal
administrations, post banks, banks and other
financial service providers for the exchange of
low-value cross-border payments that conti-
nues to attract new members to the network.
Prospect on payment volume growth in
the region over the next 5 years
Growth in the Asia Pacific region will be driven
by a number of factors, especially the continu-
ing overall economic growth and new wealth
creation in the region. According to McKin-
sey, Asia will account for two thirds of global
growth over the next five years, reaching 40%
of global payment revenues by 2015. China,
Japan and Korea are the largest markets,
whilst China, India and Indonesia are the fast-
est growing markets for payments business.
According to the World Bank, six of the top 10
receiving countries for remittances are in the
Asia Pacific region. India is the largest, with an
estimated inflow of USD 70 billion in 2012; the
other top countries include China (#2), Philip-
pines (#4), Pakistan (#7), Bangladesh (#8),
and Vietnam (#9).
Eurogiro’s corridor marketing approach will
continue to focus on intra-regional payment
flows, as well as engaging new members
outside the region that represent large sending
payment flows into the region.
In countries which are large geographically,
there is a great deal of migration from rural to
city areas in search of work and higher wages.
So it is not surprising that postal organisations
in the Asia Pacific region are placing greater
focus on migrant worker payments – both
domestic and international payments – as a
means of serving the community and building
on a financial inclusion agenda. Eurogiro is
poised to further develop the growth potential
in Asia Pacific to contribute to the long-term,
profitable and sustainable business for the
entire Eurogiro community of global members.
Read full article on
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3
Eurogiro has concentrated much of its efforts in the recent years in the Asia Pacific region and
as the Eurogiro company celebrates its 20th anniversary, the Eurogiro Asia Pacific office in
Singapore celebrates its 5th anniversary
