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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: Glenn Wheeler

Work Group Vice Chair: Steve Wasserman

January Update: The Group’s FAQs subgroup continues to make final edits on its Faster Payments FAQs Repository and plans to next advance the draft to the Operations Committee for review and approval. Members of the Group will also be presenting the session, “Credit Unions and Community Banks: Instant Payment Adoption and Use Cases,” at the upcoming Member Meeting.

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Fraud Work Group


Work Group Chair: Lee Kyriacou

Work Group Vice Chair: Amanda Compton

January Update: The Group’s first report in a series, Faster Payments Fraud Trends and Mitigation Opportunities (Bulletin.01), was recently published in the FPC’s Knowledge Center after being approved by the Board. The Group will be presenting the session, “Fraud Information Sharing Issues and Progress,” at the Spring Member Meeting.

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Directory Models Work Group


Work Group Chair: Peter Tapling

Work Group Vice Chair: Lou Grilli

January Update:  The Group’s next deliverable, an article that explores ways to leverage directory capabilities to facilitate the adoption of faster payments in the United States, was approved by the FPC Board. The article will be published in the Knowledge Center in February. The Group will be presenting the session titled, “Directory Insights: How Do We Succeed?,” at the Spring Member Meeting.

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Cross-Border Payments Work Group


Work Group Chair: Barry Tooker

Work Group Vice Chair: Jonathan Holland

January Update: The Group’s latest deliverable, “The Practicalities of Cross-Border Payments in a Faster Payments World,” was recently published in the FPC’s Knowledge Center. The Group will be presenting a session at the Spring Member Meeting titled, “Revolutionizing Cross-Border Payments: The Path to Faster, Smarter, and More Profitable Transactions.”

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QR Code Interface Work Group


Work Group Chair: Scott Green

Work Group Vice Chair: Steve Mott

January Update: The Group is finalizing the draft of its next deliverable, a paper on the topic, “How QR Codes Address ‘the Last Mile’ of Adoption – Especially at POS,” and will next advance to the Operations Committee for review. At the Spring Member Meeting, the Group will be presenting the session, “How QR Codes Are Making Real-Time Payments Work for Everyone at POS Around the World.”

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Real-Time Recurring Work Group


Work Group Chair: Josh Karoly

Work Group Vice Chair: Andrew Gomez

January Update: The Group is in the final editorial review phase of its opinion piece that addresses fraud and risk concerns around real-time recurring payments for merchants as well as large and small financial institutions. The Group will present the draft of the deliverable to the Operations Committee for review and feedback at an upcoming meeting.

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Secure Instant & Immediate Payments APIs Work Group


Work Group Chair: Dean Nolan

Work Group Vice Chair: Moa Agrell

January Update: The Group received final Board approval on the infographic that summarizes content from their previously published paper, “Real-Time Payment Application Program Interfaces (APIs),” and will publish it in the Knowledge Center in February. The Group will be presenting the session, “Bridging the Digital Divide: Are Cloud and APIs the Twin Engines of Modern Payments?,” at the Spring Meeting.

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Financial Inclusion Work Group


Work Group Chair: Gail Hillebrand

Work Group Vice Chair: TBD

January Update: The Group’s joint bulletin with the Cross-Border Payments Work Group on bill pay and remittances to family members received approval from the FPC Board. The Group will be publishing the bulletin and sharing it with the industry at large in February. The Group will be presenting a session at the Spring Meeting titled, “Financial Inclusion and Cross-Border Payment Trends: Opportunities and Challenges.”

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Digital Assets in the Financial Industry Work Group


Work Group Chair: Bo Berg

Work Group Vice Chair: Kevin Barr

January Update: The Group has received final approval from the FPC Board on its first deliverable, a blog post that discusses the considerations for the financial industry as they scale the adoption of digital assets for faster payments. The Group will also be presenting the session, “Linking Digital Assets to the Future,” at the Spring Meeting.

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Operational Considerations for Instant and Immediate Payments Work Group


Work Group Chair: Miriam Sheril

Work Group Vice Chair: Tony Cook

January Update: The Group continues to make progress on Guideline.02, a follow up to its first deliverable, “Guideline.01: Operational Considerations for Instant Payments Receive-Side Primer.” The Group will also be presenting a session at the Spring Meeting titled, “Overview of Operational Considerations Work Group Deliverables and Key Learnings.”

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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 10 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:


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.

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:

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:


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.
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.
Financial Inclusion 

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