State of Alaska Renews JPMorgan Contract for Paperless Distribution of Benefit Payments

Alaska Utilizing JPMorgan Debit Cards as Easy, Secure Way to Deliver Food and Cash Assistance

NEW YORK.- JPMorgan announced today that it has renewed its contract with the State of Alaska for the distribution of benefit payments to the more than 23,000 households currently receiving funds for food and cash assistance. Utilizing JPMorgan’s electronic services, the state will continue to supply families with convenient, easy-to-use debit cards to access their funds.

JPMorgan has supported the Alaska QUEST Card for more than a decade, enabling the state to disburse food stamps and Temporary Assistance to Needy Families. Alaska also has used the JPMorgan Direct Payment Card since 2004 to deliver Child Support benefits.

JPMorgan’s services enable state governments to cut the time and costs of delivering benefit payments. An alternative to expensive and cumbersome paper-based systems like checks or vouchers, debit cards reduce the significant costs of check delivery, administrative security and fraud, while enabling governments to enhance their paperless environmental initiatives.
“We chose to remain with JPMorgan because they continue to offer the best value for the state,” said Cheryl Kagee, EBT Program Coordinator with the Alaska Department of Health & Social Services.

“After partnering with the State of Alaska for more than ten years, JPMorgan is honored to continue delivering payment programs designed to quickly and efficiently meet the varied needs of its benefit claimants,” said Laurie Neill, Managing Director of Public Sector Solutions, JPMorgan. “We look forward to our continued collaboration and remain committed to delivering innovative, reliable, secure solutions to our government customers and their citizens.”

JPMorgan is the national leader in bringing electronic banking to low-income households through debit cards. The company provides EBT and debit card services bringing Food Stamp Program and other benefits, pension and entitlement payments to approximately 11 million cardholders in over 30 states and territories, the United Kingdom and South America. Each month, the company is responsible for processing over 70 million transactions and handling over $2 billion in funds in the U.S., the large majority relating to government programs. For more information about JPMorgan’s Electronic Benefits Transfer solutions, go to www.jpmorgan.com/publicsector