Monday, March 16, 2015

FRB: Help Your Country Create a Faster, More Secure Payments System

As promised in the paper Strategies for Improving the U.S. Payment System the Federal Reserve just released details for those interested in helping their country create a better payments system. Registration is open to all stakeholders (consumers and businesses) with "relevant payment knowledge and experience who can commit the required time and resources to these key initiatives." 

Participants of the Faster Payments Task Force will be asked to evaluate ways to implement a faster payments system in the U.S. The Secure Payments Task Force will assist in advising the Fed on payment security matters.

Diverse and committed membership will ensure a broad range of perspectives are considered as we pursue improvements to the U.S. payment system. We welcome and actively seek participation from the entire spectrum of payment system participants, including businesses and consumers.  -Esther George, president of the Federal Reserve Bank of Kansas City and executive sponsor of the effort

For additional information about the task forces, including charters, participation agreements, and registration forms, visit FedPaymentsImprovement.org. The Fed will also host a teleconference on March 20 and March 31 for Q&A.