UPU*Clearing is the UPU's efficient, low-cost solution for settling international accounts between Posts.
Members simply consolidate their invoices using the system's centralized online platform and pay their debts with one easy payment per month in euros (EUR) and/or United States dollars (USD).
The interface also allows them to comment on, change, accept or refuse electronic bills via a discussion platform.
Some 48 countries already use the system to handle bills related to terminal dues, Quality of Service Fund (QSF) payments, the UPU's Postal Technology Centre (PTC), and more, allowing them to reap benefits such as:
- Reduced costs
- Dependable repayment
Testimonials on UPU*Clearing
According to a 2015 survey, members awarded UPU*Clearing a 96.4% satisfaction rate. All respondents agreed that the system was efficient, easy to use, ensured debts were paid to them in a timely manner and helped manage any discrepancies or disputes.
Some also noted significant savings:
- 33% of UPU*Clearing members reduced their banking fees by more than 40%
- 42% of members reduced collection fees by more than 40%
- 32% of members reduced staff costs by more than 40%
What our users say:
"The payment processing time has been reduced from an average of six months to a maximum of 55 days, as all payments are processed by the 25th day of the month following the one in which the transaction took place. The system has enabled the Brazilian Post to produce an administrable cash flow, which had never been possible in its international accounts. Brazilian legislation, and probably that of other countries, requires 25 per cent of funds sent abroad to be withheld as income tax."
"From the start, we all experienced UPU*Clearing as an efficient tool for notifications and control of notifications. The daily routines have become much simpler – accepted invoices can be put into the UPU*Clearing system and your counterpart can see its payables immediately and react instantly."
United Arab Emirates
"As a user from the start of the UPU*Clearing system, I would like to express my satisfaction with the technique and technology of the system and the vast support received from the managing team. By providing comfortable procedures together with recent technological support, UPU*Clearing greatly reduces our efforts with the clearance of accounts."
"In comparison with the direct payments used so far with other operators for the settlement of international accounts, our practical experience with UPU*Clearing shows the following major advantages for all partner operators:
- Every single transaction can be individually included, excluded or accepted in the monthly clearing runs, which ensures an effective and thorough control of transactions
- Centralized banking functions increase security and greatly reduce the number of payments, which of course equally reduces banking fees
- More direct and, consequently, effective contact with the persons in charge in the different partner countries by means of a messaging facility included in the system
- Less paperwork thanks to the documents automatically generated by the system
- Easily accessible for all postal operators, provided a good Internet connection is available
- Much quicker settlement of outstanding balances
- User-friendly system
- Effective and helpful assistance by the UPU* Clearing Secretariat
- An increasing number of worldwide partner member countries
- We are delighted with the result for our own operator and thus have come to believe that UPU*Clearing could also be of interest to you, we therefore hope to get you interested in this system."
Frequently Asked Questions (FAQ)
What is UPU*Clearing?
How does it work?
What is the monthly compensation cycle?
What does it cost?
The yearly membership fee is based on the contribution classes used for the UPU's regular budget.
|UPU*Clearing contribution class||Regular UPU budget contribution class||Annual Contribution in CHF|
Who will teach us how to use it?
How will the system save my operator money?
What makes UPU*Clearing secure?
Not all my partners use UPU*Clearing. Why should I join?
How can I be sure other members will make their payments on time?
Is UPU*Clearing the same as PPS*Clearing?
What is the UPU*Clearing User Group?
The UPU*Clearing User Group is a body established under the UPU Postal Operations Council (POC) and is regulated by its own rules of procedure. The clearing system itself is also governed by specific clearing rules. The group is composed by the General Assembly and the Steering Committee.
The General Assembly meets once a year and is responsible for the election of the Steering Committee, taking strategic decisions concerning the activities of the UPU*Clearing User Group, and approving the UPU*Clearing User Group accounts and budget.
The Steering Committee is composed of five persons elected ad personam from among ordinary members of the UPU*Clearing User Group. One of its functions is to report annually to the General Assembly and the POC. The Steering Committee also submits the budget and accounts to the General Assembly and prepares the agenda for each meeting of the UPU*Clearing User Group in consultation with the Secretariat.
How do I sign up for UPU*Clearing?
The world of UPU*Clearing31.08.2020
13.12.2019Excerpt from UPU Market Research Bulletin No.2.
By UPU*Clearing Secretariat.
- Aruba, Curaçao and Sint Maarten
- Cayman Islands
- Costa Rica
- Finland (including the Åland Islands)
- Serbia (Rep.)
- South Africa