Jan. 30, 2023 – The U.S. Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today debuted its latest industry resource, the Faster Payments Service Provider Catalogue in its Faster Payments Knowledge Center. Sponsored by The Clearing House, the FPC Education & Awareness Work Group (EAWG) developed the catalogue to supplement the previously released Faster Payments Solution Provider Catalogue.
The new Service Provider Catalogue details several of the faster payments value-added services currently offered by FPC members. Users can find services by Service Type (Drive Adoption, Enhance Trust, Expand Use Cases, Optimize Efficiencies, Other); Direct Customer (bank, credit union, third-party processor, merchant/business/corporate, consumer); Faster Payment Service (RTP, FedNow, Same Day ACH, Push to Card, Other); and Use Case Type (B2B-B2G, P2P, B2C, C2B-C2G, G2C-G2B, A2A/me2me). The catalogue also provides profiles of each service provider including a snapshot of their services offered.*
"Our Work Group is thrilled to present this new resource to build awareness of the value-added service providers available to help organizations develop their faster payments strategy,” said Charles Harkness, SVP/Strategic Operations Officer at Corporate One Federal Credit Union and FPC Education & Awareness Work Group Chair. “As part of the EAWG’s core mission to provide ongoing education and awareness of faster payments, the interactive Service Provider Catalogue complements the Solution Provider Catalogue published early last year. The new catalogue fills the need of providing details on the many important services from FPC members that can enhance faster payments end-to-end solutions.”
The Faster Payments Service Provider Catalogue is the latest output from the Education & Awareness Work Group and will continue to expand over time as more FPC members add details on their current value-added services. In addition to the Faster Payments Solution Provider Catalogue, the EAWG recently published a Use Case Repository, which includes use case concepts that propose a logical and strategic use of faster payments as well as actual case studies from FPC member organizations.
“Knowledge and awareness of service providers that can help you strategize, implement, and/or enhance faster payments in your payments processes and products, is what this latest resource from FPC’s Education & Awareness Work Group provides as one of its many resources for faster payments," said Steven Wasserman, Founder of Vments and FPC Education & Awareness Work Group Vice Chair.
The FPC prioritizes inclusion of diverse perspectives in tackling complex topics such as interoperability, identifying real-world solutions that can ease adoption of faster payments, managing security risks and fraud threats, addressing barriers to financial inclusion and cross-border payments, and more, as the organization paves the way toward a future of faster payments for all.
For more information on the FPC, its current work efforts or to join, visit FasterPaymentsCouncil.org.
*The information in this catalogue, submitted by FPC member Service Providers, is for educational purposes only and not intended to be an endorsement by the Faster Payments Council.
U.S. Faster Payments Council
About the U.S. Faster Payments Council (FPC)
The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country. For more information, please visit FasterPaymentsCouncil.org.