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. 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
June Update: The Group’s Access to Technology subgroup is conducting interviews as part of its research into how digital technology could help address key financial inclusion challenges. The Group is also reviewing a list of potential new project areas to guide its future work, including topics such as top use cases for the underserved and improving access to credit through alternative data sources.
Download the CharterFraud Work Group
Work Group Chair: Lee Kyriacou
Work Group Vice Chair: Shelley Rojano
June Update: The Group’s Survey subgroup is finalizing a comprehensive questionnaire aimed at gathering insights from financial institutions on perceived barriers to instant payments adoption, including concerns around fraud. At the same time, the Dispute Resolution subgroup has completed its review of the outline for the “Synthesized Summary on Fraud Disputes in Instant Payments” and will continue sharing research and resources to support development of the upcoming deliverable.
Directory Models Work Group
Work Group Chair: Peter Tapling
Work Group Vice Chair: Lou Grilli
June Update: By consensus, the Group recently decided to sunset as an independent work group. This transition supports the FPC’s broader strategic initiative to enhance impact and adapt to the evolving needs of the faster payments industry, as outlined in the 2025 Strategy Work Group Refresh.
Cross-Border Payments Work Group
Work Group Chair: Mark Majeske
Work Group Vice Chair: Jonathan Holland
June Update: The Group recently received final approval from the FPC Board on its upcoming report, “ISO 20022: Data-Rich Messaging Advances Top Cross-Border Real-Time Payment Use Cases,” which will be published in the FPC’s Knowledge Center in the coming weeks. The B2B Use Cases subgroup is finalizing interview summaries and working on the executive summary and conclusion of its next deliverable. The Stablecoin for Cross-Border Payments subgroup in collaboration with the Digital Assets Work Group has also been exploring treasury management considerations related to the use of stablecoins.
QR Code Interface Work Group
Work Group Chair: Keith Riddle
Work Group Vice Chair: Carolyn Serejo Cypriano
June Update: By consensus, the Group recently decided to sunset as an independent work group. This transition supports the FPC’s broader strategic initiative to enhance impact and adapt to the evolving needs of the faster payments industry, as outlined in the 2025 Strategy Work Group Refresh.
Download the CharterReal-Time Recurring Work Group
Work Group Chair: Josh Karoly
Work Group Vice Chair: Andrew Gomez
June Update: The Group has developed a draft of its upcoming deliverable, “Instant Recurring Payments: What’s the Opportunity?,” and is currently seeking feedback from members to identify any gaps and strengthen the content. The Group also recently updated its charter and plans to submit it to the Operations Committee for review.
Download the CharterSecure Instant & Immediate Payments APIs Work Group
Work Group Chair: Moa Agrell
Work Group Vice Chair: TBD
June Update: The Group recently launched a Call for Participation inviting all members to join the FPC’s inaugural virtual API Hackathon. This interactive event will focus on leveraging directory capabilities to drive instant payment adoption in the U.S. by facilitating payments using trusted aliases. In preparation, the Group is actively seeking participation from members and sponsors to support the Hackathon.
Financial Inclusion Work Group
Work Group Chair: Anthony Serio
Work Group Vice Chair: Mary Mumper-Morrison
June Update: The Group’s Access to Technology subgroup is conducting interviews as part of its research into how digital technology could help address key financial inclusion challenges. The Group is also reviewing a list of potential new project areas to guide its future work, including topics such as top use cases for the underserved and improving access to credit through alternative data sources.
Download the Charter
Digital Assets in the Financial Industry Work Group
Work Group Chair: Bo Berg
Work Group Vice Chair: Kevin Barr
June Update: The Group’s Stablecoins for Payments subgroup received final Board approval for its latest blog post, “Stablecoins for Faster Payments,” which is scheduled to publish in early July. The Disaster Relief subgroup also received final approval for its draft blog, “U.S. Disaster Relief Payments: Dangerously in Need of Innovation, and Fast,” with publication planned for July. In addition, the Group recently updated its charter, which has now been approved by the FPC Board.
Download the Charter
Operational Considerations for Instant & Immediate Payments Work Group
Work Group Chair: Miriam Sheril
Work Group Vice Chair: Tony Cook
June Update: The Group is finalizing the draft of its next report, “Guideline.02: Operational Considerations for Instant Payments Send-Side Deep Dive,” and is currently reviewing feedback from The Clearing House. In addition, the Group recently updated its charter, which has received final approval from the FPC Board.
Download the Charter
Business Benefits of B2B Instant Payments Work Group
Work Group Chair: Dean Nolan
Work Group Vice Chair: Andres Garbarini
June Update: The Group’s Blog subgroup is developing a series of posts exploring key topics such as stablecoins, fraud, B2B payment use cases, and ISO 20022. The Driving B2B Instant Payments Adoption through Use Cases subgroup is also fielding a market survey to better understand the challenges and priorities organizations encounter with B2B payments. Additionally, the Group recently named Andres Garbarini of Finvix as its new Vice Chair.
Download the Charter
Instant Payments Data OptimizationWork Group
Work Group Chair: TBD
Work Group Vice Chair: TBD
June Update: *Open Call for Participation* Set to launch soon, this new Work Group will bring together financial institutions, service providers, and payments associations to establish and promote best practices for enhancing data accuracy in instant payments. Nominations for the roles of Chair and Vice Chair are also open.
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 12 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:
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:
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:
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.
Financial Inclusion
Provides a blueprint for leveraging faster payments to accelerate access to the financial system for unbanked and underserved Americans.
Sponsored by:
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.
Sponsored by:
Business Benefits of B2B Instant Payments
Accelerates the adoption of instant payments for businesses by addressing key challenges and identifying best practices with B2B Instant Payments.
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.
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.
Instant Payments Data Optimization
Facilitates a collaborative effort among financial institutions, service providers, and payments associations to establish and promote best practices for data accuracy in instant payments, ensuring a smooth and secure transition from traditional to instant payments.