The U.S. payment system is undergoing a remarkable period of change, driven by rapid adoption of technology and evolving end-user expectations. Going forward, opportunity exists to improve speed and efficiency of payments and to maintain payment system safety in the face of escalating threats. The Federal Reserve Banks believe that collaboration and engagement with the industry is the foundation of any enduring strategic improvements to the U.S. payment system.
On September 10, 2013, the Federal Reserve Banks released the “Payment System Improvement – Public Consultation Paper.” (9/10/13, PDF) The paper shares Federal Reserve perspectives on the key gaps and opportunities in the current U.S. payment system and identifies the desired outcomes that close these gaps and capture these opportunities.
Read the paper, then share your thoughts
You are encouraged to answer as many or as few questions as desired, based on your interest and expertise, and to supplement your responses with any other general perspectives on U.S. payment system improvements. Consultation paper responses may be submitted until December 13, 2013. In accordance with the Comment Submission Policy, written responses will be made public and may be viewed on this website.
- Read the “Payment System Improvement – Public Consultation Paper.” (9/10/13, PDF)
- Submit comments via an online survey
- Submit comments via email to email@example.com. For your convenience, we have provided a fillable PDF as an option for providing your responses to the survey questions. Download it, save it locally and submit it with your responses to this email address.
NOTE: Please include your name, title, organization, email, phone number and industry segment (i.e., financial institution, payments network operator, payments rules and standards, business merchant, technology solution provider/processor, emerging payments provider, government/regulatory, consulting, media, research, education, other – please define).
Please note that by submitting comments, you acknowledge that you have read and agree to the Comment Submission Policy and Terms and Conditions. The Federal Reserve Banks do not endorse any user submission and reserve the right to remove, modify or not publish any user submissions for any reason without prior notice. Your submission must not contain slanderous, defamatory or libelous material or contain obscene, abusive, harassing, threatening, vulgar, profane or other illegal material. You acknowledge that your submission is not confidential and, in the interest of transparency, may be posted to this public website, along with your name and organization.
Talk with Fed Leaders
In addition to providing written comments, industry stakeholders are invited to discuss their views with Federal Reserve Bank leaders at a number of Fed and industry forums this fall, including Sibos 2013, the Chicago Payments Symposium, Money2020, the ABA annual conference and the AFP annual conference. For more information on these opportunities, visit industry events. Additionally, Federal Reserve Bank-hosted open forums are in the planning stages with final dates and locations to be announced in the coming weeks.
We look forward to public input to this consultative paper as we jointly explore the most promising ideas for U.S. payment system improvements.