This series takes a closer look at a recent report from the United States Postal Service which states it might use its deep postal infrastructure to expand financial services to the poor. Contributors highlight key lessons from the developing world that could pave the way for success in the U.S.
Around the world, postal networks are increasingly leveraging their branch networks and other assets to expand on their financial services role. In many countries, they are emerging as important gateways for financial inclusion of the world’s poor. Evidence on account ownership in 60 countries confirms that account holders at post offices are more likely to be from financially vulnerable groups than those with accounts at traditional financial institutions. These vulnerable groups include the poor, less educated, and those out of the labor force.