Tuesday, January 28, 2014
"Around the world, financial services are the single biggest driver for new revenue for postal operators, and conditions may be ripe for similar success for the U.S. Postal Service,” the agency said. "If just 10 percent of the money underserved Americans currently spend on alternative financial services were instead spent on more affordable products from the postal service, it could general some $8.9 billion in new revenue."
The report noted that the USPS could become a more affoprdable alternative to payday lenders, which charge substantial fees for their services. The USPS said it would not become a bank or compete with banks, but instead partner with banks for alternative financial services.
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