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How Governments Navigate ACH Payments Innovation

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“On the government side, I feel they have been even more successful at implementing ACH, whether it be G2B or B2G payments,” he said. According to Thorness, government entities may even be ahead of the private sector when it comes to ACH adoption. “That’s where the complexity and challenge comes. .” ”

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Innovation Eases The Friction Of Global Payment Rails

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“On the government side, I feel they have been even more successful at implementing ACH, whether it be G2B or B2G payments,” than the private sector, he said. The technology automates check scanning and deposits, enabling businesses to seamlessly accept check payments and add that data into their back-end systems.

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Europe Ramps Up eInvoice Efforts

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For businesses, digitization of invoices promotes process automation in the supply chain and procure-to-pay arenas, the blog post noted. Colombia, meanwhile, used an eInvoicing mandate to cut tax evasion by 50 percent, researchers found. Those benefits are spreading beyond Latin America, too, with the latest initiatives focused in Europe.

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