The Hungarian Post, also known as Magyar Posta Zrt., is responsible for the postal services in Hungary. Along with delivering mail, the organization provides logistics, banking, and marketing services. Its history dates back to 1867 when it was established as a national government institution called Magyar Királyi Posta, following the Austro-Hungarian Compromise. The organization pioneered postal motorization, adopting Janos Czonka's tricycle in 1900. Over the years, the organization has undergone several changes, including dropping and reinstating the word "Királyi" in its name. 1994 it was privatized and became a joint-stock company with partial state ownership. Today, as a private limited company, Magyar Posta is vital in providing postal services and meeting the needs of individuals and businesses throughout Hungary.