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China Post Provides Electronic Remittance Service
China Post announced Tuesday that postal offices will provide electronic remittance services to residents in more than 20 large and medium cities in the country starting July 1.
The service will be extended to most of the other cities in the country by the end of this year, according to an official from the China Post.
The official noted that the move aims to improve China Post's competitive edge and reform the traditional hand-handling process of remittance.
The service, backed up by China Post's computer network, will ensure remittance gets to the receiver in 24 hours, rather than formerly in three to five days.
The official added that the service will be charged the same as general post remittance.
China Post dealt with a remittance volume of 220 billion yuan a year. Because of a boom in banking services, the figure has stood still for a long time and even decreased by a small margin in the past two years.
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