NACHA Presents Payments System Awards to U.S. Treasury And Cleveland Direct Payment Program

Apr 24, 2001, 01:00 ET from National Automated Clearing House Association

    WASHINGTON, April 24 /PRNewswire Interactive News Release/ -- NACHA - The
 Electronic Payments Association will present the 2001 George Mitchell Payment
 Systems Excellence Award today to the U.S. Department of Treasury and the
 Direct Payment Joint Promotion Program of Cleveland, Ohio. The Department of
 Treasury is being recognized for its success in converting Federal payments
 and receipts to electronic payments.  The Direct Payment Joint Promotion
 Program is being recognized for its success in enrolling consumers to pay
 their utility bills electronically via Direct Payment.  The presentations will
 be made at NACHA's PAYMENTS 2001 conference in Washington, DC.
     Donald V. Hammond, Treasury Fiscal Assistant Secretary, Richard L. Gregg,
 Commissioner of the Financial Management Service, and Van Zeck, Commissioner
 of the Public Debt, will receive the award on behalf of the Treasury
 Department.
     "For decades, the U.S. Department of Treasury has been a leader in moving
 the country from paper to electronic payments," said Charles B. Bretz, Senior
 Vice President of Compass Bank and Chairman of NACHA's Marketing Management
 Group that administers the award.  "The Federal government is the single
 largest user of the nation's Automated Clearing House Network, with 848
 million transactions in 2000.  NACHA recognizes the Treasury Department for
 its commitment to using electronic payments, and the benefits to the country
 and the taxpayers that result."
     "Treasury is committed to the use of electronic payment technologies
 wherever possible to manage the government's transactions," said Hammond.
 "Electronic payments help us provide better service to all our customers as
 well as significant savings to both of us.  We're proud of what we've
 accomplished, but we promise to do even more."
     According to the Treasury Department, 96 percent of Federal salary
 payments in Fiscal Year 2000 were made by Direct Deposit.  In addition,
 seventy-five percent of Federal benefit payments, such as Social Security and
 Veterans benefits, were made by Direct Deposit, and 59 percent of payments to
 vendors were made electronically.
     On the receipts side, over 3 million businesses are now enrolled in the
 Electronic Federal Tax Payment System to remit payroll withholdings to the
 Internal Revenue Service.  In calendar year 2000, EFTPS processed more than 63
 million federal tax payments valued at over $1.5 trillion.
     The issuance of Treasury securities was also converted to an electronic
 system.  Treasury bills and bonds are transferred through the Federal
 Reserve's electronic book-entry system, eliminating the need to issue physical
 securities for new debt offerings.  The Treasury Direct program allows people
 to purchase Treasury securities electronically from the Department, as well as
 establish automated investing in savings bonds.
     In recent years, the Department of Treasury has implemented programs or
 conducted pilot programs using electronic checks, stored-value cards, smart
 carts, debit cards, digital certificates, and digital cash.  Web sites such as
 pay.gov and treasurydirect.gov allow citizens to conduct business with the
 Treasury Department electronically.
     John Good, President of the MidAmerica Automated Payments System (MAPS),
 Mike Taipale of the Federal Reserve Bank of Cleveland, and August Bruno of
 Dominion Resources will receive the award on behalf of the Direct Payment
 program.
     In 1991, seven northern Ohio utility companies agreed to work together to
 promote Direct Payment to their customers to pay their utility bills.  MAPS
 and the Federal Reserve Bank of Cleveland coordinated the program, and fifty
 financial institutions agreed to distribute enrollment forms.  Today, more
 than 50 utilities and 150 financial institutions participate, and more than
 800,000 customers have enrolled, converting millions of checks each year into
 Direct Payments.  In 2000, 18 percent of enrollments were received via the
 program's web site -- www.directpaymentplan.com -- which was introduced in
 1998.
     "Direct Payment is reliable, accurate, on-time and confidential," said
 Bretz.  "Direct Payments simplifies your life by taking the hassle out of
 paying your bills. At 33 cents per stamp in 2000, Americans saved over $700
 million in postage alone by using Direct Payment for their bills, not to
 mention late fees that were avoided.  NACHA commends the Direct Payment Joint
 Promotion Program for its success in reaching out to Clevelanders about the
 benefits of Direct Payments."
     Each year NACHA presents the George Mitchell Payment Systems Excellence
 Award in recognition of individuals and organizations that have improved the
 nation's payments system.  The award is named in honor of the late George
 Mitchell, former Vice-Chairman of the Federal Reserve Board of Governors.
 
     About NACHA - The Electronic Payments Association
     NACHA is the leading organization in developing electronic solutions to
 improve the payments system.  NACHA represents more than 12,000 financial
 institutions through direct memberships and a network of regional payments
 associations, and 600 organizations through its six industry councils.  NACHA
 develops operating rules and business practices for the Automated Clearing
 House (ACH) Network and for electronic payments in the areas of Internet
 commerce, electronic bill payment and presentment (EBPP), financial electronic
 data interchange (EDI), international payments, electronic checks, and
 electronic benefits transfer (EBT).  Visit NACHA on the Internet at
 www.nacha.org.
 
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                http://tbutton.prnewswire.com/prn/11690X93219929
 
 

SOURCE National Automated Clearing House Association
    WASHINGTON, April 24 /PRNewswire Interactive News Release/ -- NACHA - The
 Electronic Payments Association will present the 2001 George Mitchell Payment
 Systems Excellence Award today to the U.S. Department of Treasury and the
 Direct Payment Joint Promotion Program of Cleveland, Ohio. The Department of
 Treasury is being recognized for its success in converting Federal payments
 and receipts to electronic payments.  The Direct Payment Joint Promotion
 Program is being recognized for its success in enrolling consumers to pay
 their utility bills electronically via Direct Payment.  The presentations will
 be made at NACHA's PAYMENTS 2001 conference in Washington, DC.
     Donald V. Hammond, Treasury Fiscal Assistant Secretary, Richard L. Gregg,
 Commissioner of the Financial Management Service, and Van Zeck, Commissioner
 of the Public Debt, will receive the award on behalf of the Treasury
 Department.
     "For decades, the U.S. Department of Treasury has been a leader in moving
 the country from paper to electronic payments," said Charles B. Bretz, Senior
 Vice President of Compass Bank and Chairman of NACHA's Marketing Management
 Group that administers the award.  "The Federal government is the single
 largest user of the nation's Automated Clearing House Network, with 848
 million transactions in 2000.  NACHA recognizes the Treasury Department for
 its commitment to using electronic payments, and the benefits to the country
 and the taxpayers that result."
     "Treasury is committed to the use of electronic payment technologies
 wherever possible to manage the government's transactions," said Hammond.
 "Electronic payments help us provide better service to all our customers as
 well as significant savings to both of us.  We're proud of what we've
 accomplished, but we promise to do even more."
     According to the Treasury Department, 96 percent of Federal salary
 payments in Fiscal Year 2000 were made by Direct Deposit.  In addition,
 seventy-five percent of Federal benefit payments, such as Social Security and
 Veterans benefits, were made by Direct Deposit, and 59 percent of payments to
 vendors were made electronically.
     On the receipts side, over 3 million businesses are now enrolled in the
 Electronic Federal Tax Payment System to remit payroll withholdings to the
 Internal Revenue Service.  In calendar year 2000, EFTPS processed more than 63
 million federal tax payments valued at over $1.5 trillion.
     The issuance of Treasury securities was also converted to an electronic
 system.  Treasury bills and bonds are transferred through the Federal
 Reserve's electronic book-entry system, eliminating the need to issue physical
 securities for new debt offerings.  The Treasury Direct program allows people
 to purchase Treasury securities electronically from the Department, as well as
 establish automated investing in savings bonds.
     In recent years, the Department of Treasury has implemented programs or
 conducted pilot programs using electronic checks, stored-value cards, smart
 carts, debit cards, digital certificates, and digital cash.  Web sites such as
 pay.gov and treasurydirect.gov allow citizens to conduct business with the
 Treasury Department electronically.
     John Good, President of the MidAmerica Automated Payments System (MAPS),
 Mike Taipale of the Federal Reserve Bank of Cleveland, and August Bruno of
 Dominion Resources will receive the award on behalf of the Direct Payment
 program.
     In 1991, seven northern Ohio utility companies agreed to work together to
 promote Direct Payment to their customers to pay their utility bills.  MAPS
 and the Federal Reserve Bank of Cleveland coordinated the program, and fifty
 financial institutions agreed to distribute enrollment forms.  Today, more
 than 50 utilities and 150 financial institutions participate, and more than
 800,000 customers have enrolled, converting millions of checks each year into
 Direct Payments.  In 2000, 18 percent of enrollments were received via the
 program's web site -- www.directpaymentplan.com -- which was introduced in
 1998.
     "Direct Payment is reliable, accurate, on-time and confidential," said
 Bretz.  "Direct Payments simplifies your life by taking the hassle out of
 paying your bills. At 33 cents per stamp in 2000, Americans saved over $700
 million in postage alone by using Direct Payment for their bills, not to
 mention late fees that were avoided.  NACHA commends the Direct Payment Joint
 Promotion Program for its success in reaching out to Clevelanders about the
 benefits of Direct Payments."
     Each year NACHA presents the George Mitchell Payment Systems Excellence
 Award in recognition of individuals and organizations that have improved the
 nation's payments system.  The award is named in honor of the late George
 Mitchell, former Vice-Chairman of the Federal Reserve Board of Governors.
 
     About NACHA - The Electronic Payments Association
     NACHA is the leading organization in developing electronic solutions to
 improve the payments system.  NACHA represents more than 12,000 financial
 institutions through direct memberships and a network of regional payments
 associations, and 600 organizations through its six industry councils.  NACHA
 develops operating rules and business practices for the Automated Clearing
 House (ACH) Network and for electronic payments in the areas of Internet
 commerce, electronic bill payment and presentment (EBPP), financial electronic
 data interchange (EDI), international payments, electronic checks, and
 electronic benefits transfer (EBT).  Visit NACHA on the Internet at
 www.nacha.org.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X93219929
 
 SOURCE  National Automated Clearing House Association