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: Kathy Feringa
Work Group Vice Chair: Steve Wasserman
September Update: The Group is developing a marketing plan to increase awareness and use of the FPC's educational resources, including its Faster Payments Glossary, Use Case Repository, FAQs, and Service and Solution Provider Catalogues. The Group also continues collaborating with the Digital Assets Work Group to expand the glossary with new digital asset-related terms and is advancing plans to help keep its educational resources current and valuable to the industry.
Fraud and Scam Mitigation for Faster Payments Work Group
Work Group Chair: Lee Kyriacou
Work Group Vice Chair: Shelley Rojano
September Update: The Group's fraud survey infographic is complete at the Work Group level and advancing to the Operations Committee for review. The Group is also continuing work to address money mule and illicit receiving account activity and is participating in the newly launched ASC X9 Payment Fraud Forum, with an initial focus on advancing more consistent fraud reporting classifications, data elements, and practices across faster payment networks.
Cross-Border Payments Work Group
Work Group Chair: Jonathan Holland
Work Group Vice Chair: Divya Raghupatruni
September Update: The Group is advancing its next deliverable focused on the use of AI to improve data enrichment across the cross-border payment workflow, with an emphasis on making payment data more consistent and usable. The Group is also beginning to explore additional deliverable topics and priorities as it looks ahead to its 2027 work plan.
Instant Recurring Payments Work Group
Work Group Chair: Josh Karoly
Work Group Vice Chair: Andrew Gomez
September Update: The Group is finalizing its user flow deliverable and supporting materials for business end users and merchants, with an executive summary and educational resources expected to be key components of the final resource. Members are refining the content and format as the deliverable prepares to move through the FPC approval process.
Digital Assets in the Financial Industry Work Group
Work Group Chair: Bo Berg
Work Group Vice Chair: Larry Pruss
September Update: The Group recently posted its latest blog, "The GENIUS Act, One Year Later” and a new report, "A Comprehensive Look at the U.S. Faster Payments Landscape for Optimal Operation.” Additional resources are coming soon, including “The AML Bar for Stablecoin Issuers Was Set Long Before GENIUS” blog and an infographic, “The Economics of Stablecoins for Cross-Border Transactions.” The Group is also exploring the intersection of AI and digital assets through a new subgroup.
Operational Considerations for Instant & Immediate Payments Work Group
Work Group Chair: Miriam Sheril
Work Group Vice Chair: Dustin Martin
September Update: The Group's “Operational Considerations for Non-Value Messages” guidelines have received final FPC Board approval and will be published in October. The Group is also advancing its next resource comparing operational differences between the FedNow® Service and RTP® Network, with print and online formats selected and members continuing to refine the underlying content.
Download the CharterInstant Payments Data Optimization Work Group
Work Group Chair: Satya Vandrangi
Work Group Vice Chair: Aaron Shaner
September Update: The Group continues advancing draft deliverables through its Network Data and Use Cases & Blockers to Adoption Subgroups. Current efforts include examining factors that contribute to payment rejections and data integrity challenges, as well as opportunities to use richer payment data to strengthen fraud detection, payment intelligence, and overall payment success.
Download the Charter
Exception Resolution for Account-Based Payments Work Group
Work Group Chair: Kimberly Stachak
Work Group Vice Chair: Azam Khalfe
September Update: The Group continues developing its foundational exception resolution deliverable, bringing together work from its pre-transaction, during-transaction, and post-transaction subgroups into a unified resource. Members are defining key exception scenarios and developing recommendations and best practices for participants across the payment lifecycle, while also identifying considerations that apply across multiple stages.
Download the Charter
Faster Payments User Experience Work Group
Work Group Chair: Caroline Cypriano
Work Group Vice Chair: Moa Agrell
September Update: The Group is advancing its blog series exploring key user experience considerations for faster payments, with five of the eight blog topics now advancing to the Operations Committee and remaining progressing through Work Group review and approval. As the series moves closer to the FPC approval process, the Group is also exploring future educational resources and interactive tools that could demonstrate faster payments user experience principles and address consumer experience considerations.
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 9 work groups:
Instant Recurring Payments
Promotes consumer-friendly instant recurring payment solutions for all instant payment users.
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:
Faster Payments User Experience
Aims to mitigate inconsistent user experiences by encouraging stakeholders to collaborate more effectively to ensure the evolving faster payments landscape remains accessible, efficient, ubiquitous, and scalable for all end users.
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 and Scam Mitigation for Faster Payments
Focuses on collectively addressing fraud and scam issues involving faster payments, which can affect fundamental trust in faster payment systems and require heightened or different operational controls, risk management, and end-user education.
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.
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.
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.
Exception Resolution for Account-Based Payments
Develops recommendations and best practices for exception resolution, which includes disputes, scams, fraud, and questions [or customer inquiries], specific to account-based payments, including ACH and instant payments.