La. Treasurer calls for statewide online payment options

Information provided by State Treasurer John M. Schroder:

BATON ROUGE, Louisiana – State Treasurer John M. Schroder led discussions at the Louisiana Cash Management Review Board (CMRB) meeting today (Friday, July 8, 2022), emphasizing that Louisiana must learn to better exploit the advantages of modern technology.

Two items on the meeting agenda highlighted the need to (1.) explore acceptance of electronic payment methods for all state agencies and (2.) deepen digital assets at the available to the State and to make recommendations for their best use.

Schroder urged members to consider plans to bring the state up to speed with accepting online payment for government services across all departments and agencies. This would potentially involve online payment providers such as Zelle, PayPal, Venmo, ApplePay and Google Pay. Current cash payment methods would not disappear, but new options would be made available to citizens.

“Louisiana needs to catch up to the 21st century and stop living in the Stone Age with the Flintstones,” Schroder said. “We need to be aggressive and catch up with the technology available to the citizens of Louisiana.”

Schroder added that his role as treasurer gives him some administrative financial responsibility in state agencies, but not the power to mandate the implementation of accepting online payments. He requested a meeting with the Division of Administration to discuss ways to achieve this.

“It’s about what’s most convenient for our customers – the taxpayers of the state of Louisiana,” he said. “What is that not is what’s easiest for agencies – the status quo. »

Additionally, the passage of concurrent House Resolution 103 in the 2022 regular legislative session resulted in the creation of the Louisiana Digital Assets Task Force as a subset of the CMRB. In accordance with the legislation, the task force is responsible for researching, reporting and making specific recommendations on a range of issues related to transformation technologies, including blockchain, cryptocurrencies, digital assets, distributed ledgers, Internet of Things (IoT), intelligent automation, machine learning, robotics, tokenization and related technologies. It also calls for the creation of a broader advisory group made up of experts in relevant areas of emerging fintech, including the Lafayette Public Innovation Alliance, as well as from across the country and around the world, to inform the work of the band.

“Treasurer Schroder has shown strong leadership in undertaking this study to better understand how Louisiana can take advantage of this innovative and potentially transformative technology,” said Rep. Mark Wright, author of HCR103. “Our state needs to show that it is ready to adopt and securely use digital assets at all levels, it is practical. The Treasurer shows the industry and the nation that Louisiana is a forward-looking state.

CMRB members named Schroder and Wright as initial members of the task force and heard plans to continue outreach to create an advisory group of experts in this new technology area.

Schroder assured members that the task force was not intended to invest in cryptocurrency.

“I want to be absolutely clear that there are no plans to invest state finances, money that belongs to our taxpayers, in any type of cryptocurrency,” he said. declared.

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