E-Payment

Refers to the disbursement of money or equivalent electronic representations of legal tender, for purposes of paying government expenditures, solely through electric means as opposed to the use of cash, check or physical notes to accomplish the same.

• Intermediaries

• Electronic Payment

• Electronic Collection

• Front-end System

The mode of electronic payment wherein the payments are made by the government entity itself using the intermediary’s technology or infrastructure.

• Direct Electronic Payment

• Transfer-Distribute-Liquidate

• Collect-Aggregate-Remit

• Self-Collect and Credit

It is a type of electronic payment wherein the government entity’s funds are transferred to the intermediary’s possession and control, which the latter thereafter uses to distribute payments to the intended payees of the government entity.

• Direct Electronic Payment

• Self-Collect and Credit

• Collect-Aggregate-Remit

• Transfer-Distribute-Liquidated

eOR or AR shall be accepted as proof of payment for the transaction.

• True

• False

Bonding is required under the Direct Electronic Payment.

• True

• False

Resort to the use of credit cards even if there are other modes of payments that are more expeditious and inexpensive.

• True

• False

As ______________ control mechanism in using ADA facility, the AGDB shall be required to submit a Certified List of Successful Fund Transfers.

Conduct a _________ reconciliation of the funds transferred to intermediaries and the amount disbursed.

All e-payments shall follow existing procedures on disbursements.

• True

• False

Documentation of internal control in the use of credit card shall be submitted to the Audit Team for evaluation and ________.

• verification

• review

• approval

• certification