Page 17 - ITU-T Focus Group Digital Financial Services – Recommendations

ITU-T Focus Group Digital Financial Services
Recommendations

Title of recommendation Postal Networks
Working Group Ecosystem

Audience for recommendation DFS regulators

Policy makers and other stakeholders are encouraged to leverage existing infrastructures and capabilities within
their countries, in an effort to avoid duplication of costs. In particular, policy makers are encouraged to consider
ways to use postal networks to support the DFS ecosystem.

• Postal networks represent a considerable asset in emerging economies, and regulators and policy makers
should consider ways in which these assets can be deployed in support of the full DFS ecosystem in a
country. The ITU Focus Group on Digital Financial Services has published a report titled “The Role of
Postal Networks in Digital Financial Services” which describes these assets and the various ways in which
postal networks are today providing or supporting financial services.
• Consideration should be given to the postal network’s positioning as a public good, especially in light of
the challenging business models for commercial providers of DFS in some markets. This applies both to
the provision of transaction accounts, and to supporting cash-in, cash-out services.

• Where postal networks are providing either transaction accounts (savings or current accounts), or
remittances or other payments services, these services should either be regulated by financial services
regulators or, where this is not possible, every effort should be made to ensure that regulations concerning
these accounts and services be closely aligned with those applied to banks and other licensed providers
of such services in the country. Inter-regulator MOU’s are encouraged to ensure clarity of responsibility
and to provide a mechanism to ensure regular meetings among regulators aimed at achieving alignment
of regulation.

• Transaction accounts in postal networks should be interoperable with other payments networks in the
country. Preferably, the postal network should be a direct participant in the payment network, rather than
accessing it through a bank. Consumers holding a postal network transaction account should be able to
transfer money to other postal network accounts, but also to bank accounts and to eMoney transaction
accounts offered by other licensed DFS providers in the country. Consumers, businesses, and government
entities holding bank accounts or eMoney transaction accounts should be able to transfer money into a
postal network transaction account.
• As noted in the report, postal networks are upgrading their electronic access capabilities. As they come
fully online, they may be able to play a useful role in eCommerce and mobile commerce in the country,
by managing the physical pick-up or delivery of goods and/or providing escrow services to manage risks
with such transactions. Regulators should support and encourage this.

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