Federal Reserve Publishes Strategies for Improving the U.S. Payment System
The Federal Reserve System has released Strategies for Improving the U.S. Payment System, a multi-faceted plan for collaborating with payment system stakeholders including large and small businesses, emerging payments firms, card networks, payment processors, consumers and financial institutions to enhance the speed, safety and efficiency of the U.S. payment system.
The Federal Reserve’s strategic direction for financial services focuses on improving the end to-end speed, safety and efficiency of the payment system. The Federal Reserve undertook an extensive 18-month research program aimed at identifying key gaps and opportunities, gaining industry and end-user perspectives on needs and priorities and defining ways to achieve payment improvements. Strategies for Improving the U.S. Payment System details the conclusions of those efforts.
The Federal Reserve welcomes comments and questions about the paper. and invites you to start the conversation in their new Payments Exchange blog.