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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: Charles Harkness
March Update: The Group’s Solution Provider subgroup is putting the finishing touches on its industry survey based on feedback from the Operations committee. The other three subgroups including Faster Payments Glossary of Terms, Faster Payments FAQs, and Faster Payments Use Cases, continue to advance work on its upcoming deliverables and will be presenting an “Education & Awareness Showcase” at the FPC Spring Conference.
Download the CharterFraud Information Sharing Work Group
Work Group Chair: Andrew Haskell
March Update: The Group has continued its work on a survey on faster payments fraud and plans to produce a report summarizing the final results with recommendations to address faults or gaps. The Group’s two subgroups have been focused on the definition and design of the survey as well as international and domestic research for this new deliverable. The Group plans to launch the survey in Q2. Members of the FISWG will also be presenting at the Spring Conference.
Regulatory Work Group
Work Group Chair: Laura Yens
March Update: The Group finished the draft of its overview of the legal and regulatory landscape as it may relate to faster payments. Upon completion of this draft deliverable, the work group has been dissolved. In the event additional work efforts related to the regulatory landscape are identified and approved by the Board of Directors, the draft deliverable produced by the Regulatory Work Group will provide valuable inputs for such an effort.
Directory Models Work Group
Work Group Chair: Peter Tapling
March Update: The Group’s economic impact subgroup received final approval and published its Members-only white paper, “The Economic Benefits of an Independent, Interoperable Directory for Faster Payments.” The beneficial characteristics subgroup continues to make great progress on its deliverable that will visually depict the key characteristics and benefits of an interoperable directory capability. Members of the DMWG will also be presenting at the Spring Conference.
Download the CharterCross Border Payments Work Group
Work Group Chair: Kelvin Leung
March Update: The Group received approval from the Operations Committee on its “Cross-Border Faster Payments” white paper and has received feedback on the paper from the FPC Board of Directors. The paper is structured to identify the interoperability approaches, along with associated settlement schemes necessary to create a world-class cross-border payment system. Publication of the public-facing deliverable is targeted for April.
QR Code Interface Work Group
Work Group Chair: Scott Green
March Update: The Group is currently in the analysis phase of their roadmap with a focus on industry research on specifications, identifying gaps, and making a recommendation. The Group has created a QR Code scope document and in the process of developing guidelines and industry best practices. The Group’s first deliverable is targeted for completion in Q2. Scott Green of SHAZAM was also recently named as the Work Group’s new Chair.
Real-Time Recurring Work Group
March Update: This new Group recently conducted a kick-off meeting with its members. Next the Operations Committee will appoint a Work Group Chair and Vice Chair and the group will then begin to map out its deliverables for the coming year.
Download the CharterFinancial Inclusion Work Group
March Update: This new Group recently conducted a kick-off meeting with its members. Next the Operations Committee will appoint a Work Group Chair and Vice Chair and the group will then begin to map out its deliverables for the coming year.
Download the CharterWork 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 seven 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 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.
Sponsored by:
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.
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.
QR Code Interface
Promotes the adoption of faster payments by developing QR guidelines and best practices for use by end users and financial institutions.
Financial Inclusion
Provides a blueprint for leveraging faster payments to accelerate access to the financial system for unbanked and underserved Americans.