Swiss Post is committed to basic service in payment transactions. This may look different soon.
Swiss Post is committed to making payment services possible for people all over Switzerland: through universal service. The Federal Council clarified what the modern form should look like.
The question is how long do we want to continue to tolerate that.
What happens next is mainly a question of costs, Christian Levrat, chairman of Swiss Post, says at EcoTalk. Today, Swiss Post provides not only 90 percent, as required by law, but up to 98 percent of the population with cash payments.
In addition to the 800 post offices, there are also postmen in thousands of places, with delivery personnel even “at the back of the village,” Levrat says. The question is how long do we want to continue to tolerate that.
Same competition positions
The primary service in payment transactions does not necessarily have to remain Swiss Post. Raiffeisenbank was positioned last week. “We have clearly indicated that we will participate in this discussion because we have a lot of experience and knowledge in this area,” Raiffeisen CEO Heinz Huber tells SRF.
Background: In June 2022, the Federal Council was tasked with clarifying what the updated Delegation of Essential Services for Postal and Payment Services should look like. It should also be indicated if a public digital service is needed. “Once this is clarified, the contract can also be put up for public tender,” says Hooper. Then, his bank will check if they will participate in the application.
You can also advertise the job publicly.
With more than 800 locations, Raiffeisen has a large bank branch network and hopes to attract more customers with basic service in payment transactions.
“We care about customers. We provide banking services. Across Switzerland, nearly 40 percent of the population are Raiffeisen customers. I think that’s a good starting point for such a service,” says Hooper.
Swipe Ban Credit Mortgage
Asked about the competition, Christian Levrat mentioned another topic that worries him: the ban on loans and mortgages to Postfinance, a subsidiary of Postfinance. This does not allow the granting of loans themselves.
Postfinance does a 100-meter sprint on one leg.
“Postfinance runs 100 meters on one leg,” Levrat says. The institute should not make the funds it manages available to the Swiss economy. “This seems a little silly.” In addition, stricter private fund regulations apply to Postfinance.
Raiffeisen Chairman Heinz Huber said in an interview with CH Media that politicians do not want to promote Postfinance. “The competition is already doing very well. We don’t need another government institution that gives out loans.”
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