Eurogiro News 7
The Budapest community meeting was an opportunity to welcome back a highly-
esteemed colleague, formerly representing CTT Portugal, today speaking for the first
time as representative of the UPU to a Eurogiro audience. Mr. Rodrigues presented
the list of users of the postal payments network of the UPU and hereafter focused on
the benefits for Postal Designated Operators that could be gained from the Eurogiro-
UPU interconnection. The interconnection was in use today. Bilateral agreements were
required to make use of the interconnection. UPU would not apply additional license
fees to its members for the use of the interconnection – and neither will Eurogiro.
Daniel Ayala, Wells Fargo Bank, presented Wells Fargo’s global remittance
strategy which had gained the bank its position as a dominant bank player
in the remittance business in the US today. The bank’s vision is to satisfy
the financial services’ needs of all its customers and help them succeed
financially.  The highest growth segments of the US population are primarily
ethnically diverse households. This meant focus on consumer remittance
services offered an appealing solution to this segment, especially with ‘any
to any’ options in most countries, rather than on ‘account to account’, and
meeting customers where they are – and of course good flexibility to new
payment technologies.  
Mr. Ayala also educated the audience on the US Dodd Frank Section 1073
legislation which is expected to have a significant impact on US outbound
consumer remittance transactions when they come into force in October
2013. The legislation would set standards around transparency of payment
conditions, error resolution and cancellation process.
At the community meeting, Mr. Rajiv Bhatia, Ericsson,
spoke on the new connection between Eurogiro and the
M-commerce arena, as a result of Ericsson’s membership of
Eurogiro. It would connect Eurogiro to ‘the center of financial
services innovation’ and enable Eurogiro members to connect
to the m-wallets of the Ericsson network using the Eurogiro
standards for payment exchange.
Rajiv Bhatia demonstrated the future value of such connection
by referring to people’s attachment to their phones: it took 26
hours to report a lost wallet, 68 minutes to report a lost phone.
And phones were penetrating regions and areas (even for
payments) where other channels were not yet available - rural
areas in Sub-Sahara, unbanked persons in Asia to mention a
few. Today, the number of mobile money outlets were on same
level as Western Union outlets.
First step would be connecting Eurogiro members as senders
to Globe Gcash Philippines.
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