Post Office

Postal Service Should Stay Out of Banking: Treasury

A new Trump administration report on how to reform the U.S. Postal Service throws cold water on the idea of a foray into the banking business. The report, released Tuesday, echoes arguments that bankers frequently make in opposition to postal banking, namely that the USPS is ill-equipped to manage the risks involved.

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Starling Bank Announces Partnership With Post Office

Starling Bank has become the first mobile-only bank to partner with the Post Office to offer Everyday Banking services to its customers. The partnership will allow Starling current and business account customers to deposit and withdraw cash through the Post Office’s 11,500 branches nationwide.

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Payments: New Ways for Postal Services to Serve Consumers in the Digital Economy

With mail volumes continuing to decline in todays digital economy, growing and diversifying revenue streams is a common focus for postal executives around the world.

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Japan Post to Accept Cashless Payments by Time of Tokyo Olympics

Japan Post Co. plans to accept cashless payments for postcards and parcel deliveries at its post offices by early 2020. Currently, customers can purchase postcards and pay parcel delivery fees at post offices with only cash or stamps, while post offices in many other countries offer cashless settlement services.

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Indian Postmen to Turn Bankers With Modi’s New Payments Bank

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi launched a payments bank on Saturday to turn postmen into bankers so they can offer financial services to the poor in rural areas and boost digital transactions.

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Your Local Post Office Could Become a Bank if This Bill Passes

Senator Kirsten Gillibrand, D-N.Y., is proposing legislation aimed at putting an end to current payday lending practices by giving some banking services a new home: the U.S. Post Office. The legislation, called the Postal Banking Act, would make retail banking services available at all U.S. Postal Service locations.

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