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

September Update: The Group presented at the Member Meeting about EAWG deliverables currently available in the Faster Payments Knowledge Center and others that are coming soon. The Faster Payments Solutions subgroup shared an executive summary of its “Solutions Provider Matrix” concept and sample online survey to the Operations Committee. The Faster Payments Use Case subgroup is starting to collect stories from members and currently analyzing readouts from the faster payments use cases roundtables at the Member Meeting.

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Fraud Information Sharing Work Group

Work Group Chair: Andrew Haskell

September Update: The Group presented the results from its published research white paper, “Examining Faster Payments Fraud Prevention,” during the Member Meeting and fielded questions from FPC Members about their findings. The Group is reviewing the themes and new ideas that were discussed during the Work Group breakout sessions at the Member Meeting and plan to chart the next phase of fraud information sharing initiatives and deliverables.

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Regulatory Work Group

Work Group Chair: Laura Yens

September Update: The Group conducted a panel presentation on the intersection of faster payments and the law during the Member Meeting. The Group has continued work on its first deliverable, scheduled for release in 4Q, which will be a resource that will provide an overview of the current U.S. faster payments laws and regulations affecting consumers and businesses.

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Directory Models Work Group

Work Group Chair: Peter Tapling

September Update: The Group received final approval on its updated charter from the Operations Committee and posted it in the Members Area of FPC’s website. The Group has also been reviewing themes captured during the Work Group breakout sessions at the Member Meeting and recently created two subgroups, one focused on economic impact and the other on beneficial characteristics of directory models.

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Cross Border Payments Work Group

Work Group Chair: Kelvin Leung

September Update: The Group has continued work on an outline for its first deliverable, a “Cross Border Faster Payments Interoperability” white paper. The deliverable is targeted for completion by the end of October and will be presented during an FPC Town Hall in the fourth quarter. The Group is also currently reviewing the themes and new ideas that were discussed during the Work Group breakout sessions at the Member Meeting.

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QR Code Interface Work Group

Work Group Chair: Matt Howarter

September Update: The Group is taking a close look at some of the themes and discussion points highlighted in the Work Group breakout sessions during the Member Meeting. The Group has also continued to discuss key areas of focus for the first QR Code Work Group deliverable based on feedback collected from its members. The next step will be to finalize the Group’s alignment and approach to developing the deliverable.

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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 six work groups:

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.
Fraud Information Sharing

Works with existing fraud sharing forums to identify enhancements that will make the current processes more efficient and effective, with an aim towards fostering better user experiences, bolstering confidence and trust in faster payments, and facilitating faster reaction times to address threats to the ecosystem.

Identifies and analyzes laws, regulations, and legislative proposals that may impact faster payments, and considers options as to how to support and accelerate the adoption of faster payments. 
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

Engages organizations currently working on cross border payments and gathers information on what is needed to align the operating policies and requirements of the currently disparate local faster payments systems.
QR Code Interface

Facilitates the adoption and usage of faster payments by developing a QR code template for use by end users and financial institutions.