May 2020 Pulse Newsletter

Highlights

Join the FedNowSM Community

The Federal Reserve is seeking payments industry leaders with varied expertise to participate in the FedNow Community to help inform and evolve the development of the FedNow Service. The FedNow Community is open to individuals who are interested in committing time and expertise to contribute to the success of the FedNow Service. Submit your participant profile form (Off-site) today.

Continued Momentum on the Path to Payments Improvement

As a result of our collaborative work with the industry, we have reached consequential milestones in all of the desired outcomes outlined in the Strategies for Improving the U.S. Payment System paper – speed, security, efficiency, cross-border and collaboration. If you missed our video, watch now to hear from Federal Reserve leaders on recent progress and future momentum on the path to payments improvement.

Recent Announcements

Progress and Next Steps with FedNow Service

Payments industry stakeholders attending a Nacha Payments 2020 Remote Connect virtual event in April received an update from FedNow business executive Nick Stanescu on the FedNow Service, the Federal Reserve’s instant payment solution. Learn about the work underway.

Take on Payments Blog Looks Deeper at Payments Study Data

Recently, the Take on Payments blog, sponsored by the Federal Reserve Bank of Atlanta’s Retail Payments Risk Forum, took a deeper look at data from the most recent Federal Reserve Payments Study. A key finding showed the average value of general-purpose card payments conducted remotely fell faster than the average value of in-person, general-purpose card payments in the most recent three-year period for which data is available. Read more on Take on Payments (Off-site).

Your Voice Matters – Stay Engaged

Join FedPayments Improvement on Social Media

Stay up to date on the latest news, initiatives and engagement opportunities — connect with us on Twitter (Off-site) and LinkedIn (Off-site)!