Chris Williams

Written on February 22, 2011 – 2:47 pm | by admin |

Chris WilliamsChris Williams is the Chairman of two not-for-profit organizations, RTpay and RTvat. For the last five years he has been working to persuade governments, tax authorities and international institutions of the advantages to be gained in increased efficiency, greater compliance, reduced administrative burden and, above all, significant reductions in the currently horrifying scale of fraud involved in the collection of taxes.

By using simple, well-established and widely available real-time systems, much of the current fraud and wastage can be simply and rapidly eliminated. Furthermore, costs to governments can be minimal, with all development and running costs covered by a small fee on each transaction through a central clearing server.

The increased widespread use of Mobile Phone Based Payments Systems, especially in the developing world, provides an unparalleled opportunity to move to electronic formats on a wide range of transactions, from salary payments to consumer purchases in stores, even for the large percentage of people in the world who are currently without a bank account. By moving away from cash and towards electronic payments, the potential for collecting taxes and providing rebates, repayments and benefits in real time on each transaction is greatly increased.