ACDI/VOCA joins the Better Than Cash Alliance and commits to transition its worldwide operational and programmatic payments from cash to electronic.
The alliance is an initiative of the Bill & Melinda Gates Foundation, Citi, Ford Foundation, Omidyar Network, USAID, U.N. Capital Development Fund and Visa Inc. It works with governments, the development community and the private sector to adopt the use of electronic payments, and it provides resources to those who commit to making the transition.
The shift to electronic payments can result in significant cost savings, transparency, security and economic growth. For example, a recent report by the World Bank found that governments can save up to 75 percent of costs by shifting to electronic payment programs.