The Post Office has added Advanced Payment Solutions (APS) to its list of over the counter banking services, meaning customers of the organisation's Cashplus account can withdraw money and make balance enquiries at branches.
More than a million of APS's customers will be able to use the service at 11,500 Post Office branches around the UK.
Many of APS's customers are public-sector organisations, including more than one in five of the UK's local authorities. Cashplus is used to process 180m worth of benefits payments in association with Mastercard each year, and this new partnership means those receiving benefits can use the Post Office to withdraw money and keep tabs on their spending.
"By allowing our customers access through the Post Office network, it will enable us to provide a solution to the diverse needs of our customers - extending our simple, transparent online services to in-branch facilities," said Rich Wagner, CEO and founder of APS.
"Embracing new players into an infrastructure designed for banks marks a significant step towards levelling the playing field between alternative financial service providers and traditional banks," he added.
APS and the Post Office already offer a number of services, including paying bills, but this new partnership allows for real-time processes.
"There is no denying that demand for branch banking is falling as people look for simple digital solutions," Wagner added. "The ability to open a current account online, without numerous branch visits, and then manage payments online is a big draw for most of our customers. But it is important to acknowledge that customers have diverse needs and there are instances where access to over-the-counter services is key."
The Post Office has been heavily investing in IT infrastructure over the last six months, to create more streamlined processes and attract a wider range of customers. In December, it announced it would roll out more than 30,000 tablets and PCs to staff, while in November, its consumer services were given a boost when Amazon announced its packages could be picked up from a Post Office.
