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With in-person payments for fines and fees no longer possible, government entities at the local and state levels are seeing a surge in ACH volume, according to Jeff Thorness, president of Forte Payment Systems, a CSG company. ACH transaction data standardization will also be important for reconciliation and reporting, said Thorness.
Some of them have been mandated by governments, readying for anticipated demand. Kresse attributes this inertia to entrenched processes, both at the enterprise level and within some FIs, especially where lockbox services (including receiving and scanning payments) are large revenue generators. How is this different than a wire?
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