We have summarized this news for you:
- The U.S. Department of the Treasury’s Bureau of the Fiscal Service is now offering both PayPal and Dwolla as payment options for Pay.gov, the government's secure web based collection portal for making payments to federal agencies.
- The financial transactions between the public and the U.S. government witness daily cash flow of around $90 billion.
- In the Fiscal Year 2014, the Fiscal Service collected $3.73 trillion in revenue, processing 400 million transactions. Nearly 98 percent ($3.69 trillion) were electronic transactions.
- PayPal and Dwolla have been handpicked by the bureau as they allow customers to make transactions without the need for enrolling in a system or providing personal information.
- Nearly 200 federal agencies, ranging from the Department of Interior to the Department of Defense, use the U.S. Treasury’s Pay.gov platform to create and host custom online payment forms, collecting over 100 million transactions worth approximately $110 billion per year.
Source: Bureau of the Fiscal Service