Trump Signs Executive Order to Modernize Payment Systems

Uk Jin

Summary

President Trump emphasized digital payments by directing the modernization of payment systems.
The federal government's order to use electronic payments is interpreted as a measure to prevent fraud.
It was reported that the Treasury Department plans to centrally manage payments and stop issuing paper checks.

Attention is focused on whether the payment methods of the U.S. federal government can be digitized. President Donald Trump has directed the Treasury Department to modernize the payment system.

According to Bloomberg News on the 25th (local time), President Trump signed two executive orders instructing the Treasury Department to use electronic payments as much as possible instead of paper checks to prevent fraud when money is transferred to the federal government. Additionally, as an additional measure to reduce fraud and waste occurring in U.S. government agencies, he urged a centralized approach where the Treasury Department handles payments.

President Trump also demanded that the federal government stop issuing paper checks by the end of the fiscal year on September 30. This is part of an executive order recommending payments through prepaid account cards and other digital options to agencies.