Work Group Summaries and Progress Updates
Read summaries on all the work groups and stay up to date on all the great progress underway by the work groups. Interested in joining a Work Group? Sign up here. All members are welcome.
Education & Awareness Work Group
Work Group Chair: Glenn Wheeler
Work Group Vice Chair: Steve Wasserman
May Update: The Group’s Glossary subgroup continues to enhance the interactive Faster Payments Glossary in the FPC’s Knowledge Center by identifying and defining new terms. Recent additions have been reviewed by the Operations Committee, and the Group is now integrating their feedback. Additionally, the Group has updated its charter, which is currently under Operations Committee review.
Download the CharterFraud Work Group
Work Group Chair: Lee Kyriacou
Work Group Vice Chair: Shelley Rojano
May Update: The Group is currently reviewing the fraud-focused section of an upcoming deliverable from the Operational Considerations Work Group. The Focus Group subgroup is also exploring the best approach to gather insights from financial institutions of all sizes on perceived barriers to instant payments adoption, including fraud concerns. Additionally, Shelley Rojano of JPMorgan Chase has been appointed Vice Chair of the Work Group.
Directory Models Work Group
Work Group Chair: Peter Tapling
Work Group Vice Chair: Lou Grilli
May Update: The Group recently published a new report in the FPC’s Knowledge Center titled, “Decision Points for an Open Alias Directory.” As part of the FPC’s broader strategic initiative to align with evolving industry priorities, the Group has decided to sunset as an independent work group. This transition supports the goals outlined in the 2025 Strategy Work Group Refresh, aimed at enhancing the FPC’s overall impact and adaptability.
Cross-Border Payments Work Group
Work Group Chair: Mark Majeske
Work Group Vice Chair: Jonathan Holland
May Update: The Group’s Stablecoins for Payments subgroup has finalized its latest blog post, “Stablecoins for Faster Payments,” which has been approved by the Operations Committee and is now under review by the Board of Directors. Likewise, the Disaster Relief subgroup has submitted its draft blog, “U.S. Disaster Relief Payments: Dangerously in Need of Innovation, and Fast,” for feedback. The Group has also launched a new Digital Identity & Payments subgroup to explore the intersection of digital identity and emerging payment methods. Additionally, the Group has updated its charter, which is currently under Operations Committee review.
QR Code Interface Work Group
Work Group Chair: Keith Riddle
Work Group Vice Chair: Carolyn Serejo Cypriano
May Update: By consensus, the Group recently decided to sunset as an independent work group. This transition supports the FPC’s broader strategic initiative to enhance impact and adapt to the evolving needs of the faster payments industry, as outlined in the 2025 Strategy Work Group Refresh. Before the transition, members of the Group participated in a panel session at the Spring Member Meeting titled. “I Want to Offer QR Code Payments: What Are the Risks to Be Managed?”
Download the CharterReal-Time Recurring Work Group
Work Group Chair: Josh Karoly
Work Group Vice Chair: Andrew Gomez
May Update: The Group has begun work on its next deliverable, “Instant Recurring Payments: What’s the Opportunity?,” starting with a draft outline to guide development. The Group has also updated its charter, which is currently under review by members and will be submitted to the Operations Committee for approval.
Download the CharterSecure Instant & Immediate Payments APIs Work Group
Work Group Chair: Moa Agrell
Work Group Vice Chair: TBD
May Update: The Group’s Hackathon initiative has been approved by the Operations Committee and will be shared with the FPC Board for awareness. The Group is now finalizing the participant package, establishing judging criteria, and identifying potential sponsors to support the event.
Financial Inclusion Work Group
Work Group Chair: Anthony Serio
Work Group Vice Chair: Mary Mumper-Morrison
May Update: The Group’s Access to Technology subgroup is advancing its research on “How Digital Assets Can Address Financial Inclusion Pain Points,” examining how digital tools might help broaden financial access. At the same time, the Group is evaluating its next steps and exploring ideas for future initiatives.
Download the Charter
Digital Assets in the Financial Industry Work Group
Work Group Chair: Bo Berg
Work Group Vice Chair: Kevin Barr
May Update: The Group’s Stablecoins for Payments subgroup has finalized its latest blog post, “Stablecoins for Faster Payments,” which has been approved by the Operations Committee and is now under review by the Board of Directors. Likewise, the Disaster Relief subgroup has submitted its draft blog, “U.S. Disaster Relief Payments: Dangerously in Need of Innovation, and Fast,” for feedback. The Group has also launched a new Digital Identity & Payments subgroup to explore the intersection of digital identity and emerging payment methods. Additionally, the Group has updated its charter, which is currently under Operations Committee review.
Download the Charter
Operational Considerations for Instant & Immediate Payments Work Group
Work Group Chair: Miriam Sheril
Work Group Vice Chair: Tony Cook
May Update: The Group has finalized the draft of its upcoming deliverable, “Guideline.02: Operational Considerations for Instant Payments Send-Side Deep Dive,” and plans to share it with the Federal Reserve and The Clearing House for early input. The Group has also updated its charter, which is now under review by the Operations Committee.
Download the Charter
Business Benefits of B2B Instant Payments Work Group
Work Group Chair: Dean Nolan
Work Group Vice Chair: TBD
May Update: The Group recently launched a new Blog subgroup focused on generating content ideas and exploring potential topics for future posts. The Driving B2B Instant Payments Adoption through Use Cases subgroup is actively conducting a market survey to gather insights into the challenges and priorities organizations face in their B2B payment processes.
Download the Charter
Instant Payments Data OptimizationWork Group
Work Group Chair: TBD
Work Group Vice Chair: TBD
May Update: *Open Call for Participation* Set to launch soon, this new Work Group will bring together financial institutions, service providers, and payments associations to establish and promote best practices for enhancing data accuracy in instant payments. Nominations for the roles of Chair and Vice Chair are also open.
Download the Charter
Work Groups Are Where It's At!
Are you interested in having a voice on issues that currently stand in the way of achieving faster payments ubiquity in the United States? The FPC is currently recruiting members for 12 work groups:
Real-Time Recurring
Promotes the development and adoption of real-time recurring payment solutions for business end users and financial institutions.
Sponsored by:
Education & Awareness
Develops an educational and awareness program to foster better understanding of faster payments and confidence among providers and users, ultimately driving adoption and transaction volumes, toward the industry goal of ubiquity.
Sponsored by:
Secure Instant & Immediate Payment APIs
Develops guidelines and best practices for the use of secure APIs for enrolling/onboarding users and for the initiation of instant and immediate payments, regardless of the network used.
Sponsored by:
Cross-Border Payments
Gathers information/input on various models and use cases where there is a need or desire by consumers and businesses for real-time payments across borders.
Sponsored by:
Fraud
Works with existing fraud sharing forums to identify enhancements that will make processes more efficient and effective, with an aim towards fostering better user experiences, bolstering confidence and trust in faster payments.
Financial Inclusion
Provides a blueprint for leveraging faster payments to accelerate access to the financial system for unbanked and underserved Americans.
Sponsored by:
Operational Considerations for Instant & Immediate Payments
Provides financial institutions with guideposts to effectively manage operational change that instant and immediate payments have on bank operations.
Sponsored by:
Business Benefits of B2B Instant Payments
Accelerates the adoption of instant payments for businesses by addressing key challenges and identifying best practices with B2B Instant Payments.
Digital Assets in the Financial Industry
Maps out how digital assets relate to the financial industry, focusing specifically on payments made with digital funds – central bank digital currency (CBDC), regulated liabilities and stablecoin.
QR Code Interface
Promotes the adoption of faster payments by developing QR guidelines and best practices for use by end users and financial institutions.
Directory Models
Evaluates information, including reports produced by other industry-led work groups, intended to identify and assess an approach for best practices across directory models and/or dependent platforms for the faster payments ecosystem.
Instant Payments Data Optimization
Facilitates a collaborative effort among financial institutions, service providers, and payments associations to establish and promote best practices for data accuracy in instant payments, ensuring a smooth and secure transition from traditional to instant payments.