PayGov

Paygov is an effective mechanism for Central Banks to help Government to process outward and inward payments whilst not only increasing the efficiency of making and receiving payments.

Paygov operates as a subledger of the general ledger for the Central Bank’s government accounts. It allows for multicurrency and multi-accounts management whilst maintaining role based authorization within the application.

Paygov provides users with the ability to view their current position in real-time from a payments and account balance point of view.

Features:

Payment management workstation/s: Government Treasury or government departments, depending on the implementation model selected, utilizes a payment management workstation to manage their incoming and outgoing payments.
 
Central payments engine: the payments engine provides facilities for Government payments to be processed on a gross basis and payments can be authorised and queued until sufficient funds are available to issue the payment.
 
Administration: master file maintenance facilities are provided to the system administrator to manage accounts and monitor positions and payments processed.
 
Reports: reports include enquiries based on date and value ranges for payments made and received, status reports of payments (e.g. queued), masterfile reports to manage the payment engine, statistics of transactions processed in the system.
 
System integrity measures: PayGov provides a high level of integrity and security in order to protect the system from fraudulent payments and negligence.

 

Key benefits:
  • efficient and speedy receipt of payments for Government departments / Ministries
  • improved liquidity
  • improved control over payments and fraud management
  • integration into Revenue Authority back-office systems for speedier and more efficient tax collection
  • both single and batches of payments are provided for