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Faster Payments Council Blog

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For All the Progress, Challenging Work Still Ahead for Faster Payments
Dec 22, 2020
Reed Luhtanen, Executive Director
As each year comes to a close, it is customary to look back and take stock of accomplishments. 2020 is no different, despite the challenging year we’ve all faced due to the impacts of the COVID-19 pandemic. But even with the challenges, which for man...
Planning for Faster Payments in 2021 and Beyond
Nov 05, 2020
Reed Luhtanen, Executive Director
Autumn brings falling leaves, cooler weather, and for many organizations, strategic planning. As such, it is an opportune time to highlight the importance of planning for faster payments. While we’ve been encouraging organizations to prepare for year...
Meeting Unprecedented Times with Faster Disbursements
Oct 14, 2020
Reed Luhtanen, Executive Director
In a year where we’ve seen the emergence of the COVID-19 pandemic, the raging wildfires in California, a hurricane season so active we’ve exhausted the alphabet, and more, “unprecedented” has become an all too familiar term. And these incomparable ti...
U.S. Faster Payments Evolution: Share Your Thoughts on the Journey
Oct 05, 2020
Reed Luhtanen, Executive Director
For most of us, the pandemic has upended our way of life. It has changed our working styles and environments. It has altered shopping habits. It has driven a surge in touchless and remote transactions. And while all of these are colossal shifts for ...
FPC Releases Faster Payments Fraud Prevention White Paper
Aug 04, 2020
Reed Luhtanen, Executive Director
“Faster payments equals faster fraud.” It’s the proverbial phrase that has echoed throughout the financial services industry since faster payments were introduced in the United States (well, even before they were formally introduced.) And there is po...
Solving for the Interoperability Challenge
Jun 12, 2020
Reed Luhtanen, Executive Director
Within the faster payments arena, we’ve got a lot. We have faster payments rails, including The Clearing House’s RTP® Network, the ACH Network (Same Day ACH), Visa Direct, Mastercard Send, and soon, a brand-new rail in FedNow℠. ...
FPC Work Groups: Exploring QR Codes for Faster Payments
May 08, 2020
Reed Luhtanen, Executive Director
Around the world, QR codes continue to explode in popularity as a payments instrument. In China, over the past three years, QR code “scan-to-pay” solutions have grown 15-fold, reaching $1.3 trillion U.S. in the fourth quarter of 2019.  ...
FPC Work Groups: Developing the Tools to Enable Success
Apr 27, 2020
Reed Luhtanen, Executive Director
Proper tools are an important part of anyone’s job, and in this new work-from-home norm brought to us courtesy of COVID-19, I’d guess that we’re all relying on video conferencing tools and remote connections to advance our organizational missions.  ...
What’s in a Faster Payment (or Faster Payments System for That Matter)?
Mar 03, 2020
Kim Ford, FPC Executive Director
Faster payments can mean different things to different stakeholders. Faster payments can signify a same-day, immediate or instant payment, or even an instant message transfer. And, to some, a faster...
Creating the Faster Payments Tools to Combat Complexity
Jan 21, 2020
Kim Ford, FPC Executive Director
According to the results of our recent Faster Payments Barometer Study, 48% of organizations identify as early adopters of faster payments. While that’s a healthy number, it demonstrates we still...
What’s Up in 2020: Faster Payments Predictions for the New Decade
Jan 06, 2020
Kim Ford, FPC Executive Director
If I had to summarize 2019, I’d call it a building year for the Faster Payments Council. We elected the first Board of Directors; held our very first Member Meeting;...
Federal Reserve’s Membership in FPC Strengthens Industry Efforts to Advance Faster Payments
Dec 09, 2019
Kim Ford, FPC Executive Director
There’s strength in numbers. That’s a fact. But I’d venture to say that there is also strength in diversity. Having a representative mix of elements, equally contributing to the cause, can bolster the ultimate end product or outcome....