President Donald Trump plans to unveil new security measures for mobile payments and other online transactions on Wednesday, the White House announced.
The White House said Trump will announce new mobile payment systems at the Commerce Department and at the Treasury Department that will “help ensure the integrity of online commerce.”
Trump has pledged to make it easier for Americans to pay for goods and services with cash, debit cards, and credit cards online.
He has also promised to make online purchases in cash by allowing online retailers to accept credit cards and debit cards.
The new programs will allow online retailers like Amazon, Best Buy, Target, and Walmart to accept payments in cash, and they will be able to make those purchases without a bank account, said Treasury Secretary Steven Mnuchin.
Trump has also pledged to “increase online security” by making it easier to get the government to monitor online activity.
“We’re going to have more tools that are more robust and more effective to deal with these threats,” Mnuchin said during a press briefing earlier this month.
“We’re also going to take a different approach than we’ve been taking to cybercrime.”
Mnuchin said the new initiatives are being announced at the same time the administration releases a new cybersecurity report for the U.S. Congress.
The administration said the measures will help protect Americans’ financial security and help “encourage the adoption of secure and trusted online payment methods.”
The report will include recommendations on how to better protect financial institutions and businesses from cyber attacks.
The Commerce Department’s Digital Payments Office is responsible for developing and implementing the federal government’s policies to support the digital payments market.
The Treasury Department’s Office of Technology Assessment oversees the Federal Reserve’s electronic payments systems and the central bank’s monetary policy decisions.