Australia Post Digital Mailbox

Australia Post has unveiled a Digital MailBox initiative earlier, such a service allowing customers to access all their confidential letters and bills and to make transactions, through a single trustworthy online location. The service comes as Australia Post seeks to generate new digital revenue streams as its traditional postal business comes under pressure from the rise of electronic media such as emails. Westpac (ASX:WBC) joins a number of Australian companies to partner with Australia Post's venture: Digital Mailbox service. Telstra (ASX:TLS) who is a partner will provide the cloud hosting solution. Another partner to the deal is AMP (ASX:AMP).

Rival service "Digital Post Australia" service is scheduled to commence later this year which is a joint venture composed of Computershare (ASX:CPU) (40 percent) , Salmat (ASX:SLM) (40 percent) and a a US digital mail technology start-up, Zumbox.

• Australia Post CEO, Ahmed Fahour, in June told a Senate committee that the company's letter business would lose $100 million this year.
• Australia Post reported a profit of $332 million last year.
• Australia Post had previously tried to block the competitor from using Digital Post Australia business name as it was too close to its own but lost in a federal court battle.