UPU-backed global IFS money transfer system offers cost-effective solution at post-offices

Dubai April 30, 2016:  Emirates Post Group is among the postal administrations that provide the highly cost effective and secure post-to-post money transfer service International Financial System (IFS) which has been developed by the Universal Postal Union (UPU).

"The IFS has been developed specifically to enable the poorer segment of workers to transfer money at a low cost," said Chief Commercial Officer of EPG Mr. Ibrahim Bin Karam. “At the same time, it comes with guarantee and security, due to UPU’s strong commitment to make sophisticated and faster money transfer services via the postal network. We are very happy to offer this service to our customers at our post offices.”

The IFS money transfer service forms part of the UPU's efforts to improve access to secure and reliable money transfer services through formal channels for rural populations, and more specifically for migrant workers.

UPU's IFS is a reliable, adaptable and easy-to-use tool and can be installed in the remotest areas of the world. IFS uses electronic data interchange (EDI) to send international money order data electronically, using sophisticated data encryption techniques to ensure the integrity of the data sent over the postal network. IFS also helps Posts provide electronic domestic money order services.

The IFS system not only handles all phases of international and regional money processing but also provides advanced features that facilitate cash management and accounting.

Customers have to fill up a service request form at any post office. The service is available for India, Morocco and Tunisia, for low charges, which range from AED 11 to AED 30.