These days, when we think ‘payments’ we usually think the electronic kind – cards, mobile, online. Roger Replogle (Off-site), executive vice president and cash product manager in the Federal Reserve System’s Cash Product Office (CPO), thinks about the legacy kind – cash – and its usage within the modern payments …
The Federal Reserve continues to generate momentum toward the desired outcomes outlined in the Strategies for Improving the U.S. Payment System (PDF) paper released in 2015 and built upon in the 2017 Next Steps in the Payments Improvement Journey (PDF) paper. The Spring 2019 Progress Report (PDF) released today provides …
This Federal Reserve Payments Study (FRPS) 2018 annual supplement (Off-site) updates data on core noncash payment types and systems that support everyday payments by U.S. consumers and businesses. Among the important findings: Card payments continued to show robust growth from 2016 to 2017, collectively increasing 10.1 percent by number and …
The Federal Reserve released its latest payments study fraud report, which details the cost and number of fraudulent payments in the United States. Among the important findings: The 2015 payments fraud rate, by value, was more than 20 percent larger than in 2012, while the 2015 fraud rate, by number, …
We are pleased to announce the release of our Fall 2018 Progress Report (PDF)! The report highlights the important work we’ve completed in collaboration with the industry and next steps we’re taking toward the desired outcomes for speed, security, efficiency, international payments and collaboration as outlined in the Strategies for Improving …
Today, we are excited to announce the release of our Spring Progress Report (PDF), which outlines the important work we’ve completed and next steps toward achieving better, safer, faster payments for everyone. As you’ll see in the Spring Progress Report, we had another busy year! Highlights and next steps of …
Make sure to check out Faster Payments: Market Structure and Policy Considerations (Off-site) – a new working paper by Federal Reserve research staff that explores potential market structures in the new world of faster retail payments. This research aligns with the desired outcome of faster payments outlined in the Strategies …
On September 6, 2017, the Federal Reserve issued Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey (PDF). The paper reflects the Federal Reserve’s plans for near-term collaboration with the industry to move closer to achieving the desired outcomes articulated in the Strategies …
The Federal Reserve today released their latest payments study supplement which points to an increase in the use of credit cards in 2016 from 2015. Here are the fast facts: The number of credit card payments grew 10.2 percent in 2016, a marked increase from the 8.1 percent growth experienced …
In last week’s webcast President George and Governor Powell shared insights on the Federal Reserve’s Next Steps in the Payment Improvement Journey (PDF) and answered questions regarding the Fed’s updated strategies. Over the next two months we’ll be hosting a FedForum webinar series that will go into further detail on …