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November 24, 2025
On the web
Pioneering the Future: Highlights from Fall 2025 Payments Conferences
FedPayments Improvement
"Federal Reserve Financial Services remains steadfast in its commitment to payments modernization, instant payments adoption and fraud mitigation through education, evolving innovative tools and industry collaboration. Reflecting on the fall 2025 conference season, several key insights and takeaways stand out from discussions about the future of payments and the industry’s changing landscape."
November 18, 2025
On the web
Digital Defenders: Leveraging Risk Signals to Help Combat Fraud and Scams
The Federal Reserve
"The payments industry is beginning to leverage broader digital risk signals to better detect and mitigate fraud and scams. Legacy fraud detection traditionally has relied heavily on rules-based systems that are less able to detect evolving threats, such as fraud caused by generative artificial intelligence (AI), deepfakes and other relatively new technologies. In comparison, a multi-layered approach that combines more advanced risk signals and verification methods allows for more effective customer security than any single solution. This approach may include one or more of the “digital defenders.”"
November 17, 2025
On the web
Conversations with Hundreds of Depository Institutions
Atlanta Federal Reserve
"In August, my colleague Claire Greene blogged about the effort behind the Federal Reserve Payments Survey, a triennial study analyzing trends in US noncash payments. Nearly 3,800 commercial banks, savings institutions, and credit unions were invited to participate in the survey of depository institutions. I reached out to about 1,000 of those. In one conversation, the chief financial officer of a community bank cited his fraud losses from the past month, quarter, and year without consulting any notes."
November 5, 2025
On the web
Trends, Technologies and Innovations: 2025 Chicago Payments Symposium
Federal Reserve
"The 2025 Chicago Payments Symposium achieved a significant milestone this October, a whopping quarter century as a leading forum for thought leaders from across the payments ecosystem. Here are a few highlights:"
November 4, 2025
On the web
Five FedNow® Service Announcements From This Fall
Federal Reserve
"The FedNow Service has made major announcements recently: Instant federal agency disbursements; Transaction limit increase: The FedNow Service network transaction limit will increase from $1 million to $10 million, effective November 2025. Network intelligence pilot and enhanced reporting: A pilot program allowing financial institutions sending transactions over the FedNow Service to do a “pre-check” on receiver accounts before making a payment. Exception Resolution Service: FedNow participants can directly communicate with one another to ensure exceptions can be resolved swiftly for instant payments and 1,500 participant milestone."
October 30, 2025
On the web
A Deep Dive Into the QR Code Payment Revolution With Matera
Federal Reserve
"Picture this: Instead of waiting days or weeks to receive medical, utility and other bills in the mail, they are sent directly to your email via QR code. The QR code can be used with your bank’s mobile app, and after confirming payment details, your payment is processed and settled within seconds. Matera, a leading provider of QR code and payment technologies, and its banking partner, Payfinia, recently demonstrated the first QR code payment sent over the FedNow® Service."
October 22, 2025
Top Post
Federal Reserve Payment Innovation Conference [Video: Starts at 52:53]
YouTube
"A Federal Reserve conference recorded that focused on the new technologies that have come from the defi and crypto worlds and how they are entering the mainstream payments ecosystem. Includes a vibrant discussion about payments between the traditional payment incumbents and the new entrants from the defi world. Agenda and speakers presented: https://www.federalreserve.gov/conferences/payments-innovation-conference.htm."
On the web
Embracing New Technologies and Players in Payments
Federal Reserve
"Governor Christopher J. Waller announcement: I have asked Federal Reserve staff to explore the idea of what I am calling a "payment account." Today, Federal Reserve Banks provide access to master accounts and financial services to legally eligible entities following our Guidelines for Evaluating Account and Services Requests. The payment account would be available to all institutions that are legally eligible for an account and could be beneficial for those focused primarily on payments innovations. This payment account concept would be targeted to provide basic Federal Reserve payment services to legally eligible institutions that right now conduct payment services primarily through a third-party bank that has a full-fledged master account."
October 20, 2025
On the web
The New World of Machine-to-Machine Payments
Atlanta Federal Reserve
"The traditional model of purchasing goods at the register is being replaced by contactless, automatic payments triggered by the consumer's intent and desire for convenience. The data confirms this shift. The global market for connected car payments is expected to grow from $1.12 billion in 2022 to $6.8 billion in 2030. Similarly, the global voice-based payments market is expected to reach $20.5 billion by 2033, up from $7.1 billion in 2023. Beyond the car, the broader embedded finance market is expected to grow from $146.17 billion in 2025 to $690.38 billion in 2030."
An Analytical Price of Stablecoin “Deposit” Insurance
Kansas City Fed
"With the passage of the GENIUS Act of 2025, stablecoins are poised to play a greater role in the U.S. financial system. Although very similar to bank deposits, stablecoins lack the government guarantees offered for bank deposits in the form of deposit insurance. This paper is the first to analytically derive the price of hypothetical “deposit” insurance for stablecoins."
October 15, 2025
On the web
Using Digital Identity to Support Access to Payments
Atlanta Federal Reserve
"The rapid growth of digital payments, driven by technological advancements and a digitally dependent economy, has significantly enhanced financial access for consumers and businesses. However, some consumer segments may be distrustful initially of the technology and face barriers relating to stringent identity verification requirements. This paper explores possible digital identity technology solutions to support financial access amidst the expansion of digital payments and financial services while aiming to prevent fraud and ensure regulatory adherence."
October 13, 2025
On the web
Elder Fraud Prevention Begins at Home
Atlanta Federal Reserve
"In 2023, Americans over the age of 60 were scammed out of more than $3.4 billion, according to the FBI's most recent Elder Fraud Report. Those reported losses were nearly 11 percent higher than they were in 2022. Investment, tech support, email, and romance scams were the most common among the schemes outlined in the report."
How Do Consumers’ Fraud Experiences Vary with Their Financial Vulnerability?
Federal Reserve
"A sizeable share of U.S. consumers has been exposed to financial fraud. According to the 2024 Survey of Household Economics and Decisionmaking (SHED), in 2023, 21 percent of U.S. consumers experienced financial fraud involving their credit cards, bank accounts, or other financial products. In this Payments System Research Briefing, we examine how both the share of consumers who experienced financial fraud and the share who ultimately incurred fraud losses varies by consumers’ level of financial vulnerability."
October 10, 2025
Top Post
Federal Reserve Board Announces Expanded Operating Days of Two Large-Value Payments Services, Fedwire® Funds Service and the National Settlement Service (NSS), to Include Sundays and Weekday Holidays
Board of Governors of the Federal Reserve System
"The Federal Reserve Board on Thursday announced expanded operating days of two large-value payments services, Fedwire® Funds Service and the National Settlement Service (NSS), to include Sundays and weekday holidays. The Reserve Banks will implement this expansion in several years, no earlier than 2028 to ensure operational and industry readiness."
October 9, 2025
Top Post
How Do Consumers’ Fraud Experiences Vary with Their Financial Vulnerability?
Federal Reserve
"A sizeable share of U.S. consumers has been exposed to financial fraud. In this Payments System Research Briefing, we examine how both the share of consumers who experienced financial fraud and the share who ultimately incurred fraud losses varies by consumers’ level of financial vulnerability."
October 8, 2025
On the web
Financial Institutions Can Use Instant Payments to Attract Customers, Improve Satisfaction and Lower Risk of Attrition
Federal Reserve
"U.S. consumers want fast, convenient payment methods, and younger generations are adopting nonbank providers to meet their expectations. A new study from Federal Reserve Financial Services found that 78% of consumers chose faster payments as a preferred option — and half held balances at nonbank providers."
October 2, 2025
On the web
Toolkit Module 2: How Synthetic Identities Are Used
FedPayments Improvement
"Unlike other types of fraud, payment behavior does not always indicate synthetic identity fraud. Once a synthetic identity enters a portfolio, its account activity often mimics that of a normal – and even upstanding – customer, with timely and in-full payment history. Once a loss is incurred, there are not any indicators that fraud occurred. Rather, it appears to be a real customer who simply was unable to pay off his or her credit balance."
September 29, 2025
Top Post
Who Will Pay for Tariffs? Businesses’ Expectations about Costs and Prices
Federal Reserve Bank of Boston
"Amid evolving global trade policy and rising tariff uncertainty, understanding how small and medium-sized businesses (SMBs) form expectations about future costs and adjust their pricing is critical for assessing how the recently imposed tariffs on US imports could impact consumer prices. To that end, we analyze several waves of a survey of owners and other decision-makers at a nationally representative sample of US SMBs, defined as companies that employ 500 or fewer workers. "
September 25, 2025
Top Post
U.S. Consumers’ Use of Cryptocurrency for Payments
Kansas City Federal Reserve
"Some policymakers and payments industry participants expect consumers to use stablecoins—a type of cryptocurrency intended to maintain a stable value relative to some other asset—for payments. However, the share of U.S. consumers who use cryptocurrency for payments has been very small and recently declined slightly. The most cited reason for using cryptocurrency is that the person or business receiving the money preferred it, suggesting many users passively choose cryptocurrency for payments."
September 23, 2025
On the web
From Gadgets to Gas Pumps: The Evolution of Payment Interfaces
Atlanta Federal Reserve
"As payment functionality spreads across more devices, so do the risks. Privacy and data security become more complex in distributed environments where sensitive information may pass through multiple endpoints. Not everyone is ready to adopt voice-based or ambient payments, particularly when concerns about errors, mischarges, or device misinterpretation persist. Many devices and services are locked into proprietary networks, limiting interoperability and making the user's experience across platforms difficult."
September 19, 2025
On the web
Evolution of Identity Verification and Fraud Detection
Federal Reserve
"Identity verification, the process by which financial institutions confirm your identity, has evolved over the years due to technological advancements, as well as our dependency on and the convenience of digital devices. Traditionally, this verification process depended on in-person interactions with bank staff and the presentation of physical documents, such as passports, driver’s licenses and utility bills. While digital devices are improving the customer experience, they also have introduced new ways for criminals to apply different fraud tactics."
September 17, 2025
On the web
Exception Resolution Service Now Includes FedNow® Service Transactions
Federal Reserve
"FedNow Service participants can now use the Exception Resolution Service to directly communicate with one another to ensure that exceptions — such as disputes, notifications, questions or requests for additional information — can be resolved swiftly and effectively for instant payments. Federal Reserve Financial Services expanded the Exception Resolution Service beyond ACH transactions in response to industry feedback that FedNow participants were looking for a way to efficiently resolve exception management cases."
September 15, 2025
Top Post
FedNow® Service Powering Instant Payments for Disaster Relief Disbursements
Federal Reserve
"Starting this month, FedNow Service participants may start receiving a new type of government payment for their accountholders — instant disaster relief disbursements. This is the latest example of Treasury’s use of the FedNow Service for certain government payments. Treasury was among the first to launch with the FedNow Service two years ago. The first financial institution to receive an instant disaster relief payment was CB&S Bank, headquartered in Russellville, Alabama."
September 9, 2025
Top Post
FedNow® Service Will Raise Transaction Limit to $10 Million to Meet Increased Demand, Unlocking Higher-Value Use Cases
Federal Reserve
"The FedNow Service network transaction limit will increase from $1 million to $10 million in response to growing commercial demand, effective November 2025. The increased limit will enable financial institutions and businesses to support higher-value use cases and reflects an increasing need for speed and certainty in the modern payments ecosystem."
September 4, 2025
On the web
What’s New With New Account Fraud?
Federal Reserve
"In today’s digitized world, financial institutions may have many reasons to encourage customers to open accounts electronically. The digital onboarding process, whether online or in-app, typically is more convenient than in-person onboarding. However, without appropriate fraud detection or controls in place, digital account opening can expose financial institutions to numerous opportunities for criminals."
September 3, 2025
Top Post
Contact and Payment Methods Used for the Top Five Categories of Scams
Kansas City Fed
"In recent years, the amount of money U.S. consumers have lost to scams has increased sharply. The contact methods scammers use to reach consumers and the payment methods defrauded consumers use to pay scammers vary depending on the category of scam. However, both the use of social media as a contact method and the use of cryptocurrency, payment apps, and bank transfers as payment methods have increased across the top five scam categories."
August 29, 2025
On the web
Automated Clearing House Payments [History]
Federal Reserve History
"Automated Clearing House (ACH) payments were first established in the 1970s by the Federal Reserve System and the banking industry. Up to that point, cash and checks had been the principal methods for retail payments in the United States. ACH payments, which are initiated electronically, were envisioned as a more-efficient payment method."
August 27, 2025
Top Post
Instant Payment Use Cases: Property and Casualty Insurance
Fed Now
"The FedNow® Service can offer insurance carriers the ability to instantly send final and irrevocable funds 24x7x365, creating an opportunity to modernize the policyholder experience, thus growing satisfaction and enhancing loyalty. This resource describes the advantages of transferring funds with instant payments, and outlines next steps for insurance carriers, service providers and financial institutions."
August 20, 2025
Top Post
Payments Study: Gathering Data from Thousands of Depository Institutions
Atlanta Fed
"My colleagues at the Atlanta Fed and I have been reaching out to leaders in the payments industry to assist them with responding to the Depository and Financial Institutions Payments Survey (DFIPS). This every-three-years survey is an essential component of the Federal Reserve Payments Study (FRPS). New this year: the FRPS is collecting data on the number and value of instant payments, encompassing real-time payments and FedNow."
August 14, 2025
On the web
Federal Reserve Unveils Two Online Toolkits for Scams and Check Fraud Mitigation
FRB Services
"With payments fraud on the rise, the Federal Reserve has released two new toolkits: the Scams Mitigation Toolkit and Check Fraud Mitigation Toolkit. The toolkits are intended to support education and increase awareness about scams and check fraud, enable the payments industry to better identify and fight them, and foster industry collaboration on fraud and scams mitigation."
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