Azerpoct postal operator launches money transfer system to Ukraine

Azerbaijan's Azerpoct postal operator is launching a money transfer system to Ukraine using a STEFI system of money transfers, the Ministry of Communications and Information Technologies of Azerbaijan told.

It is expected the system will be commissioned in March, the Ministry said.
The use STEFI system will allow the Azerbaijani postal operator to offer two types of services for money transfers, a traditional form taking three days and urgent transfers only three hours.

The STEFI system is designed by the Postal Technology Centre of the Universal Postal Union and enables the switch from paper exchange of international money transfers to electronic.
Legal documents on the use of remittances have already been signed with Ukraine. A similar document was signed with Belarus as well.

Plans for the postal operator include the use of STEFI to five countries. The main Azerbaijan money transfer traffic is towards in Russia, Ukraine, Belarus and Kazakhstan at the moment.