In a recent paper, the Federal Reserve looked at opportunities to enhance economic mobility and resilience for those without access to digital payments, especially those relying on cash as a primary payment method and without access to a traditional bank account.
Over the past two decades, the Chicago Payments Symposium has been an independent forum where payments industry thought leaders and policymakers gather to learn, debate and share provocative ideas – and ultimately, use those ideas to help shape the future of payments.
The Federal Reserve recently released its 2019 Survey of Consumer Payment Choice, the 12th in a series of annual studies that provide a comprehensive understanding of how U.S. consumers make payments.
This January marked the five year anniversary of the release of the Strategies for Improving the U.S. Payment System (PDF) paper. Developed in consultation with industry stakeholders, the paper established our collaborative initiative to improve the payment system and has underpinned many of the Federal Reserve’s efforts to date.
What’s happening in U.S. payments these days? Ask the Federal Reserve. In its role as the central bank of the United States, the Fed regularly conducts studies to help policymakers, the industry and the public better understand – and improve – the U.S. payment system. The Fed recently provided new insights on payments methods and trends by publishing not one, not two, but three bellwether studies in December 2019. Here’s a roundup of this research.
In response to industry comments on its Federal Register notice (Off-site), the Board of Governors of the Federal Reserve System has approved modifications to the Federal Reserve Banks’ FedACH® Service, National Settlement Service (NSS) and Fedwire® Funds Service to help facilitate adoption of a later Same Day automated clearing house …
Today, the Federal Reserve System announced it has joined the U.S. Faster Payments Council (FPC) (Off-site) as a founding sponsor. As a member, we’ll actively participate in the FPC’s work to facilitate faster payments in the United States, enabling Americans to securely pay anyone, anywhere, at any time with near-immediate …
On Nov. 14, 2019, Charles Evans, President of the Federal Reserve Bank of Chicago, spoke at the Third Annual Fintech Conference in Philadelphia, hosted by colleagues at the Federal Reserve Bank of Philadelphia. His speech focused on past, present and future innovations to improve the U.S. payment system, and the …
Want to learn more about the FedNowSM Service? Are you ready to share your feedback on the Federal Register notice before the November 7 deadline? We’ve pulled together our list of resources to help you better understand the Federal Reserve Board’s announcement to build and operate the FedNow Service (Off-site) …
Engaging with payments stakeholders is an important part of the Federal Reserve’s leader catalyst role within the payments industry, and a vital step toward achieving safe, ubiquitous and faster payments in the United States. Some of our best opportunities to hear from industry leaders come from our in-person gatherings. Our …