The Federal Reserve released its latest payments study fraud report, which details the cost and number of fraudulent payments in the United States. Among the important findings: The 2015 payments fraud rate, by value, was more than 20 percent larger than in 2012, while the 2015 fraud rate, by number, …
The Governance Framework Formation Team (GFFT) has launched a new, highly anticipated payments organization – the U.S. Faster Payments Council (FPC). In today’s increasingly mobile, digital economy, Americans are demanding a world-class payment system where they can safely and securely pay anyone, anywhere, at any time and with near-immediate funds …
We are pleased to announce the release of our Fall 2018 Progress Report (PDF)! The report highlights the important work we’ve completed in collaboration with the industry and next steps we’re taking toward the desired outcomes for speed, security, efficiency, international payments and collaboration as outlined in the Strategies for Improving …
Thank you to everyone who attended the inaugural FedPayments Improvement Community Forum in Chicago this week. You brought passion and enthusiasm to the Forum, and your dialogue and engagement is helping to shape the future of a faster, safer and more efficient payment system in the United States. Did you …
Are you interested in being involved in the United States’ journey toward a faster, safer and more efficient payment system? Don’t miss the opportunity to attend the inaugural FedPayments Improvement Community Forum on October 3 – 4, 2018! The Forum will be hosted in downtown Chicago and is your opportunity …
Today, we are excited to announce the release of our Spring Progress Report (PDF), which outlines the important work we’ve completed and next steps toward achieving better, safer, faster payments for everyone. As you’ll see in the Spring Progress Report, we had another busy year! Highlights and next steps of …
As announced earlier today, the Federal Reserve will begin work this month on a new study that will measure fraud and associated costs in the U.S. payments system and identify the causes and contributing factors to fraud. The study is part of the Federal Reserve’s ongoing effort to improve and …
We believe that industry collaboration with diverse payment stakeholders is paramount to the success of the Federal Reserve’s payments improvement initiatives. Our commitment to stakeholder engagement is what led us to create the FedPayments Improvement Community back in 2015, and remains the driving force behind the enhancements we’re introducing today. …
As announced earlier today, the Secure Payments Task Force published the Payment Lifecycles and Security Profiles educational materials outlining the lifecycles, security characteristics and relevant laws and regulations for the most common payment types. Developed through collaborative efforts of task force participants with diverse payments and security expertise and perspectives, …
The Secure Payments Task Force will conclude its efforts in March with a final publication consisting of a collection of educational materials outlining the lifecycles and security profiles of today’s primary payment methods. Task force participants will transition into the Federal Reserve’s FedPayments Improvement Community, established to provide stakeholders with …