The US Path to Faster Payments. Final Report Part One: The Faster Payments Task Force Approach

The Faster Payments Task Force is a broad and inclusive group of payment industry stakeholders with representatives from organizations across the payment ecosystem, including financial institutions, non-bank payment providers, regulators, standards bodies, consultants, businesses (merchants and corporates), and consumer groups. The Federal Reserve assembled the task force to collaboratively identify and evaluate alternative approaches to implementing safe, ubiquitous, faster payments capabilities in the United States.

In an effort to continue the dialogue within the payment industry and with the general public, the task force has decided to release its final report in two parts. This is Part One of the final report. It describes the background and process of the task force’s work and its motivation for pursuing faster payments solutions in the context of the current payments landscape.

Part Two can be found here.