Electronic payment programs can save governments as much as 75...
Electronic payment programs can save governments as much as 75 percent in administrative costs, the World Bank said in a report released Thursday. Only 25 percent of developing countries process government cash transfers and social benefits electronically, while a slightly…
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higher percentage use e-payments for public sector salaries and pensions, according to the World Bank. “This means that many governments are stretching limited resources, and spending more than they should on paying benefits and salaries,” the World Bank’s Gaiv Tata said in a news release. The report highlighted Brazil as an example of cost saving through e-payments. Brazil’s “Bolsa Familia” social safety net program reduced its administrative costs by 75 percent by going electronic, the World Bank said. “More efficient electronic payment systems not only save the government money, they can also potentially benefit taxpayers and all other users of electronic payments,” the World Bank’s Massimo Cirasino said in a news release (http://xrl.us/bnjavz).