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.
Work Group Chair: Glenn Wheeler
Work Group Vice Chair: Steve Wasserman
March Update: The Group received Board approval on the "FAQs for Faster Payments: Clearing & Settlement, Interoperability, QR Codes, Regulatory, User Experience" section of its Faster Payments FAQs Repository. Members of the Group also presented the session, “Credit Unions and Community Banks: Instant Payment Adoption and Use Cases,” at the Member Meeting.
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Work Group Chair: Lee Kyriacou
Work Group Vice Chair: Amanda Compton
March Update: The Group continues to make great progress on the draft of its next bulletin, Bulletin.02, which will include International country profiles. The Group presented the session, “Fraud Information Sharing Issues and Progress,” at the Spring Member Meeting.
Work Group Chair: Peter Tapling
Work Group Vice Chair: Lou Grilli
March Update: The Group’s newest subgroup is currently working on an outline for a potential deliverable on the topic, “Economics of Federated Directory.” The Group presented the session titled, “Directory Insights: How Do We Succeed?,” at the Spring Member Meeting.
Work Group Chair: Barry Tooker
Work Group Vice Chair: Jonathan Holland
March Update: The Group has formed a subgroup to explore how fintechs leveraging ISO 20022 can enhance and de-risk aspects of payments with the ability to provide richer data in the payment. The Group presented a session at the Spring Member Meeting titled, “Revolutionizing Cross-Border Payments: The Path to Faster, Smarter, and More Profitable Transactions.”
Work Group Chair: Scott Green
Work Group Vice Chair: Steve Mott
March Update: The Group received final approval from the Board on its upcoming deliverable, a paper on the topic, “How QR Codes Address ‘the Last Mile’ Adoption of Faster Payments at the Point-of-Sale.” At the Spring Member Meeting, the Group presented the session, “How the Rest of the World Uses QR Codes to Facilitate Transacting at POS.”
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Work Group Chair: Josh Karoly
Work Group Vice Chair: Andrew Gomez
March Update: The Group received approval on its next deliverable, “Navigating Instant Recurring Payments: Consumer, Business, and Financial Institution Perspectives,” from the FPC Board. The opinion piece addresses fraud and risk concerns around real-time recurring payments for merchants as well as large and small financial institutions.
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Work Group Chair: Dean Nolan
Work Group Vice Chair: Moa Agrell
March Update: The Group recently published an infographic that summarizes content from their previously published paper, “Real-Time Payment Application Program Interfaces (APIs),” in the FPC’s Knowledge Center. The Group presented the session, “Bridging the Digital Divide: Are Cloud and APIs the Twin Engines of Modern Payments?,” at the Spring Meeting.
Work Group Chair: TBD
Work Group Vice Chair: TBD
March Update: The Group is developing a report based on results of its Financial Inclusion industry survey and will next share the draft report with the Operations Committee for review. The Group presented a session at the Spring Meeting titled, “Financial Inclusion and Cross-Border Payment Trends: Opportunities and Challenges.” There is also a call for nominations out for Chair and Vice Chair of the Work Group.
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Work Group Chair: Bo Berg
Work Group Vice Chair: Kevin Barr
March Update: The Group received final approval on its next blog post, “The Next Frontier – Digital Assets Mortgage Processing,” from the Board and will soon be posting it to the FPC’s blog. The Group also presented the session, “Payment Paradigm Shift: Navigating the Future Landscape of Digital Payments,” at the Spring Meeting.
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Work Group Chair: Miriam Sheril
Work Group Vice Chair: Tony Cook
March Update: The Group is currently in the editorial review stage of its next deliverable, “Guideline.02: Operational Considerations for Instant Payments Receive-Side Transaction Steps.” The Group also presented a session at the Spring Meeting titled, “Overview of Operational Considerations Work Group Deliverables and Key Learnings.”
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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:
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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.
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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.
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