This week a new international express postal order service was introduced by the Spanish postal operator Correos to enable fast money transfers to Uruguay. Eventually the system will be implemented for money transfers to Chile and Morocco.
During the 24th Congress of the Postal Universal Union (UPU) that was held in Geneva the Correos and Uruguayan Mail entered into partnership to initiate the new remittance service. At the moment the international urgent postal order is already operative in 60 offices of the Uruguayan Mail. It means that now customers my transfer their funds back and forth within just 15 minutes at a significantly reduced cost as compared with that offered by other money transfer services.
Basically the new service leverages International Financial System (IFS), developed by the Center of Postal Technologies of the UPU to provide a trustworthy and sure network for the transference of money by electronic means between the postal operators.Source
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