The annual Chicago Payments Symposium focused on “Activating Next Gen Use Cases,” including global innovations in faster and instant payments, digital currency, new financial technologies and the importance of financial inclusion.
The Federal Reserve’s new payments improvement director, Shonda Clay, discusses the Fed’s continued efforts on advancing the U.S. payment system.
The Accredited Standards Organization X9 is looking to catalyze ISO 20022 common data usage in the U.S. market through their ISO 20022 Market Practice Group.
Over the past year, the Federal Reserve has spoken with over 50 industry experts on this topic for its Payments Fraud Insights white paper series. Following the release of the final white paper in this series, the Federal Reserve hosted a webinar to discuss strategies for mitigating synthetic identity payments fraud with two of these experts.
From 2012 to 2015, credit and debit (including prepaid and non-prepaid) card payments continued to gain ground in the payments landscape, accounting for more than two-thirds of all core noncash payments in the United States, according to a Federal Reserve study of U.S. non-cash payments released December 22, 2016. Automated Clearing …
In light of ongoing developments to improve the U.S. payment system, including the Federal Reserve’s Strategies for Improving the U.S. Payment System (PDF) efforts, the Federal Reserve Board anticipates additional interest by industry participants in establishing joint accounts. Joint accounts are intended to facilitate settlement between depository institutions participating in …
As outlined in the Strategies for Improving the U.S. Payment System (PDF), the Faster Payments Task Force was established earlier this summer with the objective of identifying and evaluating approach(es) for implementing a safe, ubiquitous, faster payments capability within the United States. The Faster Payments Task Force spent the last several …
In an announcement (PDF) on May 29, 2015, the Federal Reserve named Gordon Werkema as the new Payments Strategy Director tasked with leading the major payment system improvement initiatives outlined in the Strategies for Improving the U.S. Payment System (PDF) paper. Werkema’s resume makes it easy to see why he …
The Federal Reserve System is pleased to release Strategies for Improving the U.S. Payment System, a multi-faceted plan for collaborating with payment system stakeholders to enhance the speed, safety and efficiency of the U.S. payment system. Read it here (PDF). Read the paper today, then join Kansas City Fed President …
A U.S. payment system that is safe, efficient and broadly accessible is vital to the U.S. economy, and the Federal Reserve plays an important role in promoting these qualities as a leader, catalyst for change and provider of payment services to financial institutions and the U.S. Treasury. The Federal Reserve …