Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey

On September 6, 2017, the Federal Reserve issued Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey (09/06/17, PDF). This paper reflects the Federal Reserve’s plans for near-term collaboration with the industry to move closer to achieving the desired outcomes articulated in the Strategies paper. This paper puts forward a series of refreshed strategies and describes nine new tactics the Federal Reserve will employ, in collaboration with industry, to make further progress. In addition to the tactics described in this paper, the Federal Reserve will continue work on enhancing its existing services and advancing its ongoing initiatives, consistent with the Strategies paper.

The Federal Reserve will continue to seek input and communicate progress on initiatives from all payment participants through live and virtual forums, surveys, industry- and Federal Reserve-sponsored groups and events, and online feedback mechanisms. To receive communications and invitations, join the FedPayments Improvement Community!