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. Additional work group summaries and updates will be uploaded soon. Interested in joining a Work Group? Sign up here. All members are welcome.

Education & Awareness Work Group

Work Group Chair: Charles Harkness

Work Group Vice Chair: Steve Wasserman

November Update: The Group’s Use Cases subgroup created a Use Case Study questionnaire and is currently working to convert it to an online format to collect content. Its Service Providers subgroup has developed a draft web display (Catalogue) to show the responses from the Service Providers questionnaire. The Group’s Glossary of Terms subgroup completed the FPC-Nacha collaboration terms needed for education modules and will return focus to all FPC terms in the glossary. 

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Fraud Information Sharing Work Group

Work Group Chair: Andrew Haskell

Work Group Vice Chair: Deborah Baxley

November Update: The Group previously voted to disband the work group under its current Charter and Deliverables. Some Group members volunteered to join a small group to recharter and put a proposal together for the next phase of the Fraud Information Sharing Work Group.

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Directory Models Work Group

Work Group Chair: Peter Tapling

Work Group Vice Chair: Lou Grilli

November Update:  The Group published an International Best Practices in Directory Models infographic in the resources section of the Knowledge Center. The infographic summarizes its recent white paper that presents research on six directory overlays to faster payments systems across the globe and evaluates how each overlay leveraged directories to support efficiency, experience, and security objectives while seeking to fuel adoption of faster payments within their respective markets.

Download the Charter

Cross-Border Payments Work Group

Work Group Chair: Barry Tooker

Work Group Vice Chair: James Sellick

November Update: The Group finalized the draft of the second edition of its Cross-Border Payments Work Group Bulletin, an ongoing dialogue with industry leaders as to the design choices, implications, and considerations of a cross-border central bank digital currency models. The Operations Committee approved the deliverable and is currently in final review by the FPC Board. The Group is targeting mid-December to finalize and publish the new publicly available resource in the Faster Payments Knowledge Center.

Download the Charter

QR Code Interface Work Group

Work Group Chair: Scott Green

Work Group Vice Chair: Steve Mott

November Update: The Group is working on its latest deliverable on the topic “Understanding QR Codes Outside the U.S.” As part of the development process, the Group is analyzing international practices for QR codes in China, Singapore, Thailand, and Brazil; and will assess transactional processes and experiences for end-to-end processing and determine what capabilities might best suit the U.S. market. The Group plans to publish a paper that explores how QR codes address “the last mile” of adoption at the point of sale.

Download the Charter

Real-Time Recurring Work Group

Work Group Chair: Josh Karoly

Work Group Vice Chair: Hope Hacker

November Update: The Group continues to work on its next deliverable, an opinion piece that will address fraud and risk concerns around real-time recurring payments for merchants as well as large and small financial institutions. The piece will also focus on authentication and visit irrevocability concerns as applicable. The Group recently conducted a survey on irrevocability with RTRWG members to gather feedback on this topic and is currently reviewing the survey responses.

Download the Charter

Secure Instant & Immediate Payments APIs Work Group

Work Group Chair: Dean Nolan

Work Group Vice Chair: Moa Agrell

November Update: The Group is developing the draft of its first deliverable, guidelines on the use of secure APIs for onboarding/ enrollment and initiating instant and immediate payments. As part of the process, the Group is conducting research on several U.S.-based companies that can provide examples of best practices for APIs and feature functionality. The Group has divided up company assignments between group members and created a template to organize the research collected on API best practices.

Download the Charter

Financial Inclusion Work Group

Work Group Chair: Gail Hillebrand

Work Group Vice Chair: Adam Rust

November Update: The Group’s Environmental Social Governance (ESG) subgroup is exploring the development of a baseline article that would highlight the recent FIWG paper on financial inclusion. The article would focus on how ESG initiatives may relate to faster payments leading to financial inclusion. Its other subgroup will be collaborating with the Cross-Border Payments Work Group on a draft of an industry bulletin that will address issues related to both cross-border payments and financial inclusion.

Download the Charter

Digital Assets in the Financial Industry Work Group

Work Group Chair: TBD

Work Group Vice Chair: TBD

November Update: This is a new Work Group which will be launching soon.

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Operational Considerations for Instant and Immediate Payments Work Group

Work Group Chair: TBD

Work Group Vice Chair: TBD

November Update: This is a new Work Group which will be launching soon.

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 eight 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:

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:

Financial Inclusion 

Provides a blueprint for leveraging faster payments to accelerate access to the financial system for unbanked and underserved Americans.

Sponsored by:

Fraud Information Sharing

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.

QR Code Interface

Promotes the adoption of faster payments by developing QR guidelines and best practices for use by end users and financial institutions.
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.
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.