Pitney Bowes Hails Singapore Post for New Meter Discount on Postage
STAMFORD, Conn., July 09, 2007 - Pitney Bowes Inc. (NYSE:PBI) is praising Singapore Post for the post’s recent implementation of a postage discount for mail that is processed using a postage meter. This move, effective July 1, makes Singapore Post one of a growing number of national posts around the world that are passing lower transaction costs on to customers who use meters.
In announcing its decision, Singapore Post joins Royal Mail (UK), La Poste (France), India Post, An Post (Ireland), Norway Post, Finland Post, Sweden Post and others in offering some form of discount or rebate on some or all segments of metered mail.
“We salute Singapore Post and these other leading posts for recognizing the value of postage meters to users of the mailstream,” said Pitney Bowes CEO Murray Martin. “Not only do meters help cut expenses for posts, but they also enhance security by making every piece of mail traceable back to its origins.”
These posts have decided to offer discounts because postage meters help them avoid the equivalent of millions of dollars in costs required to design, print, distribute, sell and account for postage stamps. The discount offered to meter users provides an incentive for mailers to switch to the high-tech devices, because postage is usually one of the largest expenses a mailer faces. Switching more mail to postage meters helps mitigate higher postage costs.
Discounts of this kind stimulate efficiency and innovation in the sector, a key objective not just for mailers and posts but also for independent postal regulators around the world.
Pitney Bowes has argued for many years that posts in more nations should implement discounts of this type. “The logic of lower costs is unassailable,” Martin said. “Posts can make mail more valuable and attractive as a medium of communications by sharing their savings with the business mailers that make up much of their revenue base. We will continue to advocate for meter discounts so that the financial benefits of postage meters are shared more broadly throughout the mailstream.”
About Pitney Bowes
Pitney Bowes is a mailstream technology company that helps organizations manage the flow of information, mail, documents and packages. Our 35,000 employees deliver technology, service and innovation to more than two million customers worldwide. The company was founded in 1920 and annual revenues now total $5.8 billion. More information is available at www.pb.com.