Section 735.110  Purpose of Program

a)         The Act requires the Treasurer to receive the revenues and all other public moneys of the State, and all moneys authorized by law to be paid to the Treasurer, and safely keep the same.  The Act also provides that revenue received by the State in the form of coins, cash, checks, drafts, electronic fund transfers, electronic checks, credit card payments, debit card payments, or other similar payment instruments and the processing thereof shall be authorized for acceptance and collection by the State Treasurer.  [15 ILCS 505/7]  Pursuant to this authority, the Treasurer maintains contractual relationships with vendors in order to process financial transactions, such as credit card processing and electronic checks, on the State's behalf.

b)         The Act permits the Treasurer to establish an E-Pay program to supplement and enhance both the investment opportunities and the secure electronic payment options otherwise available to other custodians of public funds for public agencies in this State [15 ILCS 505/17].

c)         Pursuant to this authority, the Treasurer has established the E-Pay Program that provides a convenient, secure and affordable electronic payments processing option to facilitate the acceptance and processing of credit card, debit card and electronic check (E-check) payments to public agencies.  The management, administration, processing and settlement of electronic payments are provided by the Treasurer and its vendors, selected through a competitive bidding process.

(Source:  Amended at 46 Ill. Reg. 19013, effective November 10, 2022)