Payments News

The Fed Unveils an Industry Group Charged With Developing Faster Payments

Nov 13, 2018

Following through on plans disclosed earlier this year, the Federal Reserve on Tuesday formally unveiled the U.S. Faster Payments Council, an industry group charged with collaborating to spur the adoption of faster payments and identify market opportunities.

The 22 inaugural members range from retailing giant Walmart Inc. to Visa Inc. and Mastercard Inc. to some big banks, tech companies, processors, and automated clearing house governing body NACHA. The faster payments effort aims to clear and settle payments in near real time.

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