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
July Update: The Group is gearing up to film a new series of use case videos during the Fall Member Meeting and is currently inviting interested members to participate. FPC members are also welcome to record videos independently and submit them for inclusion. Additionally, the Glossary subgroup continues to build out the interactive Faster Payments Glossary in the FPC Knowledge Center by identifying and defining additional key terms.
Download the CharterFraud Work Group
Work Group Chair: Lee Kyriacou
Work Group Vice Chair: Shelley Rojano
July Update: The Group’s Survey subgroup has completed a detailed questionnaire aimed at understanding financial institutions’ views on barriers to instant payments adoption, especially related to fraud. The Dispute Resolution subgroup is continuing work on its upcoming deliverable, “Synthesized Summary on Fraud Disputes in Instant Payments”. Additionally, the Group has formed a new RFI subgroup to provide a response to the Federal Bank Regulatory Agencies' RFI, specifically addressing payments fraud mitigation with a concentration on instant payments.
Directory Models Work Group
Work Group Chair: Peter Tapling
Work Group Vice Chair: Lou Grilli
July 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.
Cross-Border Payments Work Group
Work Group Chair: Mark Majeske
Work Group Vice Chair: Jonathan Holland
July Update: The Group is preparing to release its next publication, “ISO 20022: Data-Rich Messaging Advances Top Cross-Border Real-Time Payment Use Cases,” which will be available in the FPC Knowledge Center in early August. Both the B2B Use Cases and Stablecoin collaborative for Cross-Border Payments and Digital Assets are steadily advancing their respective deliverables. The Group will also present “Domestic Real-Time Payment Schemes and Cross-Border Payments: A Match Made in Heaven” at the Fall Member Meeting.
QR Code Interface Work Group
Work Group Chair: Keith Riddle
Work Group Vice Chair: Carolyn Serejo Cypriano
July 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.
Download the CharterReal-Time Recurring Work Group
Work Group Chair: Josh Karoly
Work Group Vice Chair: Andrew Gomez
July Update: The Group is actively refining its upcoming deliverable, “Instant Recurring Payments: What’s the Opportunity?” by incorporating valuable feedback from Group members. This report aims to equip merchants with actionable insights and tools to build a compelling business case for adopting instant recurring payments. Additionally, the Group has recently updated its charter, which is under review by the Operations Committee.
Download the CharterSecure Instant & Immediate Payments APIs Work Group
Work Group Chair: Moa Agrell
Work Group Vice Chair: TBD
July Update: The Group is preparing for the FPC’s first virtual API Hackathon and has extended an open Call for Participation to all members. Designed as a hands-on, collaborative experience, the Hackathon will explore how directory-enabled alias-based payments can accelerate the adoption of instant payments in the U.S. The Group continues to encourage member involvement and is also seeking sponsors to help bring this initiative to life.
Financial Inclusion Work Group
Work Group Chair: Anthony Serio
Work Group Vice Chair: Mary Mumper-Morrison
July Update: The Group’s Access to Technology subgroup is continuing its interview-based research focused on the role digital tools can play in tackling financial inclusion barriers. The Group is also evaluating a range of potential project ideas, including exploring top use cases that benefit underserved communities and examining how alternative data could expand access to credit.
Download the Charter
Digital Assets in the Financial Industry Work Group
Work Group Chair: Bo Berg
Work Group Vice Chair: Kevin Barr
July Update: The Group’s Stablecoins for Payments subgroup recently published its blog post, “Stablecoins for Faster Payments,” in early July. And just this week, the Disaster Relief subgroup published its blog, “U.S. Disaster Relief Payments: Dangerously in Need of Innovation, and Fast.” The Group will also be presenting the session, “Stablecoins and the Future of Cross-Border B2B Payments: Today and Tomorrow,” in collaboration with the Cross-Border Payments and B2B Instant Payments Work Groups at the Fall Member Meeting.
Download the Charter
Operational Considerations for Instant & Immediate Payments Work Group
Work Group Chair: Miriam Sheril
Work Group Vice Chair: Tony Cook
July Update: The Group has finalized the draft of its next report, “Guideline.02: Operational Considerations for Instant Payments Send-Side Deep Dive,” and received approval from the Operations Committee to advance to the Board. The Group has also developed an infographic that will serve as a user guide for all their publications. At the Fall Member Meeting, the Group will be presenting the session, “What Do Know About Send? Test Time.”
Download the Charter
Business Benefits of B2B Instant Payments Work Group
Work Group Chair: Dean Nolan
Work Group Vice Chair: Andres Garbarini
July Update: The Group continues to make progress across its active subgroups. The Blog subgroups are preparing a series of upcoming posts that will take a closer look at key themes including fraud, stablecoins, B2B use cases, and ISO 20022. Meanwhile, the Market Scan subgroup is compiling insights from the market survey on the pain points and priorities organizations face in the B2B payments space.
Download the Charter
Instant Payments Data OptimizationWork Group
Work Group Chair: TBD
Work Group Vice Chair: TBD
July 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.