Guidance on FedPayments Improvement Industry Segments

Industry Segment Descriptions

  • Academic Institution: An institution dedicated to education and research, which grants academic degrees.
  • Business End-User: A commercial, industrial or consumer enterprise.
  • Consulting Firm: A company that provides professional advice to organizations for a fee.
  • Consumer Interest Organization: Organizations or groups whose primary purpose is to advance the interest of consumers.
  • Government End-User: A government department, agency, or other entity performing governmental functions engaging as an originator and/or receiver of payments.
  • Industry Trade Organization: An organization or group that represents the interest of a specific industry or group of constituents.
  • Large Financial Institutions: Financial institutions with assets of $90 billion or more.
  • Law Firm: A business entity formed to engage in the practice of law; the primary service is to advise clients (individuals or corporations) about their legal rights and responsibilities, and other matters in which legal advice and other assistance are sought.
  • Medium Financial Institutions: Financial institutions with assets between $1 billion and $89 billion.
  • Payments Network Operator: An organization that operates, monitors and maintains the operation of a payments network.
  • Payments Rules and Standards: An organization or group whose primary purpose is to set the rules or standards.
  • Regulatory Institution: Any local, state or federal agency whose regulatory oversight encompasses payments organizations or functions.
  • Small Financial Institutions: Financial institutions with less than $1 billion in assets.
  • Technology Solution Provider or Processor: Hardware/software or service vendor that provides a product or a service to payments industry stakeholders.