On 7 July 2021, Mastercard and the Universal Postal Union (UPU) held a series of convenings, focused on the digital transformation of the sector.
During those roundtables, the following topics were discussed: How digital technology and collaborative business models are helping to transform the postal sector and creating new ways for posts to advance financial and social inclusion, grow their services, improve efficiency, and deliver a better consumer experience.
The three-hour online forum attracted over 150 participants from postal organizations across the globe. A distinguished panel of experts from the postal services, business, academia, and non-profit organizations discussed the key issues facing posts today and how the sector is advancing digitization.
The goal of the roundtables is to encourage postal organizations to learn from one another and accelerate together. It is hoped that the shared learnings expressed during the event – available in this paper and through the on-demand video recording – will contribute to sound business strategies, adapted regulatory frameworks, and forward-looking policies that will benefit people across the globe and support inclusive economic growth. This paper concludes several key takeaways from the digital convening, which are valuable to learn about digital transformation.
Here are six key takeaways from the event:
Digital transformation of the postal service business model has accelerated in recent years due to e-commerce growth and the impact of the COVID-19 pandemic.
The postal sector has historic strengths, including a trusted brand, extensive counters and networks that reach ‘the last mile’, and common global standards that knit the world together with interoperable communications.
Integrating digital efficiency, accuracy, and security with these core strengths and offering new digitally optimised services can help postal systems diversify and grow sustainably.
Key growth opportunities include e-commerce, SME services, broader parcel delivery and logistical offerings, financial and payment services, and government engagements.
Public–private partnerships are a force multiplier, helping postal services overcome digitisation challenges, such as a lack of in-house expertise, limited funding, and scalable solutions.
Early movers in digital transformation are reporting business success. For instance, the postal system of Costa Rica has expanded from 15 to 60 commercial services in the last few years, has seen dramatic growth in logistics and courier revenues, and has become the country’s dominant provider of e-commerce delivery services.
Learn more about the paper here>