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 funds availability. The press release can be found here.
“We have an unprecedented opportunity to work together to design the faster payments ecosystem from the ground up,” said Connie Theien, senior vice president and director, payments industry relations, Federal Reserve Bank of Chicago. “Ongoing collaboration is essential for addressing the opportunities and challenges ahead, encouraging faster payments adoption and further transforming the U.S. payment system.”
Theien will represent the Federal Reserve on the FPC and coordinate its participation in FPC work groups and other engagements. For more information, visit the FPC website (Off-site).