As reported in today’s Wall Street Journal, the Economist Intelligence Unit (EIU) today shared results from the second Government E-Payments Adoption Ranking (GEAR) study, sponsored by Visa.
The 2011 GEAR study measures the extent to which governments in 62 countries provide e-payment services and the underlying factors that affect government e-payments adoption. It builds on an initial study conducted in 2007 with new findings that highlight the diversity of government e-payment systems already in place, as well as the abundance of opportunities available to government for improving e-payment services for citizens and businesses.
Bottom line – e-payments adoption by governments is on the rise, and infrastructure and security measures are improving to better support these programs.
Governments use e-payments in a range of ways. From disbursing benefits to citizens so they receive timely, secure access to their funds, to establishing purchasing card programs that help streamline paper-based processes, prevent fraud and drive compliance, e-payments are enabling governments to enjoy greater efficiencies and reduce costs.
The following video highlights some of the topline findings:
The study notes – and Visa knows well from our experience – that there is no one-size fits all solution for governments. Visa’s global network can provide tailored programs across disbursements, procurement, and acceptance.
Partnering with our clients to collaborate with governments supports Visa’s mission to be best way to pay and be paid for everyone, everywhere, regardless of location and income. Today, there are more than 5,000 Visa government programs in 47 countries around the world.
For example, in emerging markets, Visa provides payment options that increase transparency and support financial inclusion, such as the use of Solidaridad Visa Prepaid cards to disburse subsidies in the Dominican Republic. These programs empower citizens – who often live in unstable environments – with a secure, reliable and convenient way to purchase goods and make and accept payments.
In developed markets, such as with a statewide benefit distribution program in Nebraska, Visa programs help government agencies strategically manage and optimize the use of technology infrastructure to streamline costs and overall efficiency while getting funds to benefit recipients in a timely, convenient and secure manner.
In another example, the government of Western Australia has gained operational efficiencies and cost savings using digital currency for procurement and travel.
Visa partners with its clients to help governments around the world transition to electronic payments, increasing efficiencies, promoting financial inclusion and facilitating economic growth. The results of EIU’s research highlight how governments use e-payments today – and how we can partner with clients to deliver products and services that address challenges governments may face. To learn more about Visa’s government solutions, visit http://www.visagovernmentsolutions.com/.
Posted by: Brian Triplett, Head of Commercial & North America Prepaid, Visa on April 24, 2012 at 11:08 am