Industry Segment Descriptions

Guidance on FedPayments Improvement Industry Segments

  • Academic Institution: An institution that is dedicated to education and research and grants academic degrees
  • Business End User: A commercial, industrial or consumer enterprise
  • Consulting Firm: A company that provides professional advice to organizations for a fee
  • Consumer Interest Organization: Organizations or groups whose primary purpose is to advance the interest of consumers
  • Government End User: A government department, agency, or other entity performing governmental functions engaging as an originator and/or receiver of payments
  • Industry Trade Organization: An organization or group that represents the interest of a specific industry or group of constituents
  • Large Financial Institutions: Financial institutions with assets of $90 billion or more
  • Law Firm: A business entity formed to engage in the practice of law; the primary service is to advise clients (individuals or corporations) about their legal rights and responsibilities, and other matters in which legal advice and other assistance are sought
  • Medium Financial Institutions: Financial institutions with assets between $1 billion and $89 billion
  • Payments Network Operator: An organization that operates, monitors and maintains the operation of a payments network
  • Payments Rules and Standards: An organization or group whose primary purpose is to set the rules or standards
  • Regulatory Institution: Any local, state or federal agency whose regulatory oversight encompasses payments organizations or functions
  • Small Financial Institutions: Financial institutions with less than $1 billion in assets
  • Technology Solution Provider or Processor: Hardware/software or service vendor that provides a product or a service to payments industry stakeholders

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