On January 26, 2015, the US Federal Reserve issued “Strategies for Improving the US Payment System” which introduces a plan for collaborating with payment system stakeholders. The plan aims to enhance the efficiency of the US payment system and caters to large and small businesses, emerging payments firms, card networks, payment processors, consumers and financial institutions. The paper outlines the Federal Reserve’s intent to create a task force to identify a more effective approach to safer and faster payment capabilities. To further clarify the details on payment system improvement the Federal Reserve will host a webcast at 1:00 PM Eastern Time on January 29, 2015. The webcast will share views on the Federal Reserve’s vision for the future US payment system and plans for collaborating with stakeholders to achieve shared goals. In addition, a subsequent series of FedForum teleseminars on February 4 and 10 will present an overview of the strategies and a question-and-answer session.
Access to the webcast is available at: www.ustream.tv/federalreserve; registration for the FedForum events is available at: https://fedpaymentsimprovement.org; and the US Federal Reserve paper is available at: https://fedpaymentsimprovement.org/wp- content/uploads/strategies-improving-us-payment-system.pdf.