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Monday May 30, 07:12
US state, local govts accept e-payments
(by Natali Novak)

US state, local govts accept e-payments

The majority of the US state and local governments see it possible to accept e-payments with fraud controls, including account reconciliation and transaction confirmation, according to ePaynews.

A survey, conducted by the Government Finance Officers Association (GFOA) and JP Morgan Chase, showed that about 90% of governments deposited their receipts the same day or the next day, with 74% accepting ACH credits and debits, 80% accepting wire transfers and 62% accepting credit cards for routine payments.

About 86% of state and local governments used Fedwires or wire transfers to disburse funds, according to the survey. More than 78% of those surveyed said they used ACH credits or debits and 47% used purchasing or procurement cards.

The majority of governments used anti-fraud safeguards, including passwords for authorized personnel to initiate transactions (93% of respondents), transaction confirmation with banks (81%) and account reconciliations from the bank (79%).

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