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The Fed Prioritizes Security As Payments Speed Up

PYMNTS

Federal Reserve is turning heads for its attention to faster payments, but the Fed has recently announced yet another initiative in the payments innovation space. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

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TCH, FIS Submit Real-Time Payments Vision To Fed

PYMNTS

The Clearing House (TCH), the payments firm owned by commercial banks, said that, at the end of last week, it offered up a proposal alongside FIS to the Federal Reserve’s Faster Payments Task Force requesting evaluation of its real-time payments (RTP) system.

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The Fed On Finding A Clear Road To Getting Faster

PYMNTS

To ensure that transformation goes as smoothly as possible, the Federal Reserve is again bringing stakeholders together with a focus on an industry-designed governance framework that can support faster payments technology development. The Fed’s first effort came in the form of the Faster Payments Task Force.

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Fed Task Force Releases Payment Lifecycles And Security Profiles

PYMNTS

The profiles provide a perspective on the most common payment types, covering enrollment, transaction flow and reconciliation. They also cover security methods — and identity management controls — along with relevant laws and regulations, among other topics.