The Federal Reserve System this week opened up registration for two payments task forces it outlined in a recent paper that laid out the Fed’s grand vision for improving the U.S. payments system.
The Fed is inviting all interested stakeholders with payments knowledge and experience, as well as the time to commit, to register for the Faster Payments Task Force or the Secure Payments Task Force.
Per the Fed’s announcement: “Participants on the Faster Payments Task Force will identify and evaluate alternative approaches for implementing safe, ubiquitous, faster payment capabilities in the United States. The Secure Payments Task Force will advise the Federal Reserve on payment security matters, consult on security aspects of the Faster Payments Task Force work, and help determine priorities for future action to advance payment system safety, security and resiliency.”
“Diverse and committed membership will ensure a broad range of perspectives are considered as we pursue improvements to the U.S. payment system,” Esther George, president of the Federal Reserve Bank of Kansas City and executive sponsor of the effort, said in a statement. “We welcome and actively seek participation from the entire spectrum of payment system participants, including businesses and consumers.”
The Fed plans to field questions during two Task Force teleconferences set for March 20 and March 31. More information is available here.