A survey of more than 2,000 businesses offers a look into readiness and interest in faster payments as businesses navigate the COVID-19 environment.
Faster payments, which include instant payments, continue to be a key topic of consideration and curiosity around the world. As progress continues here in the United States, now is the time to brush up on your instant payments knowledge.
The recent U.S. Faster Payments Council (FPC) Spring Conference offered an opportunity to hear from industry leaders about key developments in areas such as interoperability, fraud prevention and use case trends. A highlight of this virtual event was a discussion with Nick Stanescu, senior vice president and FedNow business executive and Steve Ledford, The Clearing House’s senior vice president for product and strategy.
With faster payments, and specifically instant payments being hot topics in the United States and around the world, there is no better time than the present to continue learning about this key area for the future of payments.
To support the development, testing and adoption of the FedNow(SM) Service, the Federal Reserve has announced industry participants in the FedNow Pilot Program.
Despite a tumultuous year, progress and innovation in the payments industry persists. According to the 2nd annual Faster Payments Barometer, nearly 4 in 5 respondents are either accelerating or maintaining faster payments implementation plans.
Faster payments, including instant payments, are quickly gaining popularity around the world. And here in the United States, the topic is at the forefront of the payments industry. Now is the time to start learning more about this important and evolving area for the future of payments.
The Federal Reserve has formed a pilot program to support the development, testing and adoption of the FedNow Service. The FedNow Pilot Program continues efforts to foster industry partnerships in support of the FedNow Service, and will be conducted in three phases: advisory, testing and closed-loop production.
As part of our collaborative efforts with the industry to improve the U.S. payment system, the Federal Reserve will be sharing educational resources to help stakeholders across the payments ecosystem see the possibilities and plan for the implementation of instant payments.
Connie Theien, Senior Vice President and Director of Payments Industry Relations at the Federal Reserve Bank of Chicago will advise on the newly formed U.S. Faster Payments Council’s (FPC) Board Advisory Group.