Fast Facts from the Latest Federal Reserve Payments Study Supplement
The Federal Reserve today released their latest payments study supplement which points to an increase in the use of credit cards in 2016 from 2015. Here are the fast facts: The number of credit card payments grew 10.2 percent in 2016, a marked increase from the 8.1 percent growth experienced …
Kenneth Montgomery Announced as Payments Security Strategy Leader
Last week, the Federal Reserve System announced that Kenneth Montgomery, Federal Reserve Bank of Boston’s first vice president and chief operating officer, will succeed Todd Aadland as the payments security strategy leader. In this role, Ken will lead the Federal Reserve’s effort to reduce fraud risk and advance the safety, …
Learn How You Can Improve the Security of the U.S. Payment System – Follow the Secure Payments Task Force Today
Protecting the security and integrity of the U.S. payments system is a top priority and the responsibility of all payments industry stakeholders. Through unprecedented industry collaboration, the Secure Payments Task Force has already started laying the foundation to address payments security challenges by identifying and promoting actions that can be …
Federal Reserve Announces ISO 20022 Migration Timeline for the Fedwire Funds Service
The Federal Reserve Banks today announced plans to complete their migration to the ISO 20022 standard for their real-time gross settlement system, the Fedwire Funds Service, by the end of 2023. Adopting the ISO 20022 standard for payments clearing and settlement messages supports the Federal Reserve’s strategy to enhance the …
Read the Business Payments Coalition’s Latest Paper: Catalog of Electronic Invoice Technical Standards in the U.S.
When it comes to sending and receiving electronic invoices, modern businesses are faced with a mountain of options and considerations. Businesses must also navigate the additional challenges of integration with their trading partners driven by the many different e-invoice technical standards available in the U.S. market. Wouldn’t it be nice …
Where in the World is FedPayments Improvement: October Edition
The weather may be cooling off but fall conference season is heating up! We’re gearing up for another exciting slate of events and are looking forward to engaging with the industry and speaking on payment system improvements, the current state of our initiative and more. We regularly attend events to …
Be Prepared for the September 21 Webcast
Mark your calendar to join Kansas City Fed President Esther George and Federal Reserve Board Governor Jay Powell on Thursday, September 21, for a webcast at 11:00 a.m. ET. They will share views on the Federal Reserve’s plans for near-term collaboration with the industry to move closer to achieving the desired …