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Quincy treasurer unveils PayIt rollout and reports $286,000 in treasury gains from short-term treasuries
Summary
Treasurer Molly Smith told the council the treasurer/collector's office will adopt PayIt for online payments, offer e-billing and mobile payments, and the office’s US Treasury ladder investments produced approximately $286,000 in additional revenue.
Treasurer and Collector Molly Smith told the council that the treasurer’s office is implementing a new online payment platform, Quincy PayIt, and reported recent gains from a short-duration U.S. Treasury ladder structure implemented last year.
Smith said the treasurer’s office, a staff of eight, processed roughly 300,000 taxpayer payment receipts year-to-date, funded more than 113,000 payroll deposits and completed 36,000 vendor payments. To modernize payments and improve taxpayer service, the office is contracting with PayIt to add e-billing, autopay, Google Pay and Apple Pay, a dedicated mobile app, pay-by-phone options and improved real-time integration with the city’s financial system.
Smith said the city began laddering short-duration U.S. Treasury investments (rolling three-, six- and nine-month instruments) about a year ago. That investment strategy, she reported, has earned the city about $286,000 in additional revenue versus prior cash yields. The treasury team also plans outreach materials, including a new taxpayer payments brochure and multilingual assistance through staff who speak several languages.
Councilors asked about the unbanked population and whether new online tools would disadvantage residents who pay with cash. Smith acknowledged a high volume of in-person cash payments and said the office will continue to accept cash while encouraging digital options. She also said the new PayIt implementation will use an API to update the Munis ERP in real time, reducing the late-night batching delays that sometimes create duplicate payments or user confusion.
The treasurer’s FY2026 budget was presented and later approved by the council during the departmental hearings. Smith said PayIt’s pilot and rollout will be coordinated with the city’s IT and finance teams and she will report back with implementation milestones.
