Join us in New York on September 29-October 1 for our next Payments Boot Camp and Advanced Payments workshop!
A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
June 3, 2026
On the web
2026 Diary of Consumer Payment Choice Reveals Stable Consumer Preferences amid Technological Change
The Federal Reserve
"Federal Reserve Financial Services recently released the 2026 Diary of Consumer Payment Choice , an annual study of U.S. consumers’ payment habits. The findings show that U.S. consumers’ use of payment methods has remained stable amid technological change and other activity in the payments ecosystem. For the sixth year in a row, cash was the third-most used payment instrument, accounting for about 1 in 7 payments."
May 21, 2026
Top Post
Federal Reserve Board Requests Public Comment on a Proposal to Establish a “Payment Account,” for the Specific Purpose of Clearing and Settling Payments
The Federal Reserve
"The Federal Reserve Board requests comment on a proposal to establish a "payment account," which financial institutions could use for the purpose of clearing and settling payments. Financial institutions with a range of business models have sought access to the Federal Reserve's payment services to reduce costs and increase payment speed. The proposed account would support innovation by serving the clearing and settlement needs of certain institutions whilemitigating material risks to the Reserve Banks and payment system."
On the web
Kansas City Fed Quietly Publishes Details Re Kraken Fed Account
"The Federal Reserve Bank of Kansas City has confirmed that the limited purpose Federal Reserve master account it granted to Kraken Financial in March provides access only to the Fedwire Funds Service. The disclosure resolves one of the sharpest questions raised by both Democrat legislators and banking associations since the digital asset bank became the first of its kind to receive a Fed account. In a note published earlier this month, the Kansas City Fed disclosed the specific services and restrictions attached to the account for the first time."
May 20, 2026
On the web
FedNow’s Role in Modernizing Payments
Federal Reserve Bank of Boston
"One key part of that the U.S. payments system is the FedNow® Service, the Federal Reserve’s instant payment rail. Launched in 2023, it enables financial institutions to move funds instantly – 24/7, 365 days a year. While FedNow is focused on domestic payments, the Fed is also exploring how it could eventually help make cross-border payments faster and simpler. Executive Vice President and Chief FedNow Executive Nick Stanescu discusses why FedNow was created, how it works, and what it could mean for businesses, consumers, and the future of financial access."
May 14, 2026
On the web
FedNow® Service Network Intelligence API Launches
The Federal Reserve
"Financial institutions and service providers sending instant payments over the FedNow Service now have access to a new risk mitigation tool that will empower them to send instant payments with confidence. With the network intelligence API, FedNow participants can access receiver account-level data observed over the service, adding an extra layer of information to help them assess the risk of a potential payment. The API, which launched on April 28 for early adopters of the tool, joined the Federal Reserve Financial Services’ (FRFS) suite of fraud and risk mitigation features."
May 13, 2026
Top Post
New Fed Data: Differences in Payments Activity at Large and Smaller Institutions
Federal Reserve Bank of Atlanta
"This commentary is based on new data released by the FRPS in March, detailing payments activity by the 100 largest DIs by transaction account deposit size. The release provides the number and value of check, ACH, wire, and alternative payments (bank bill pay and person-to-person) at the 100 largest DIs and all other DIs for 2015, 2018, and 2021. The average business transaction account balances at the Top 100 DIs by deposit size imply that these DIs serve the largest businesses in the US. This flows through to payments."
May 12, 2026
Top Post
2026 Diary of Consumer Payment Choice: Consumer Habits Hold Steady as Payment Options Grow
Federal Reserve
"For about 1 in 7 payments, consumers still pay with cash despite the growing proliferation of digital payment options, according to the 2026 Diary of Consumer Payment Choice (Diary), the annual survey from Federal Reserve Financial Services measuring the evolving role of cash in the U.S. economy. Now in its 10th year, the national survey revealed that U.S. consumer payment use remained largely consistent over the past three years."
May 8, 2026
On the web
Education: Understanding the Fed: Five Things You Should Know About Consumer Protection and Community Development
Federal Reserve Bank of Atlanta
"The Federal Reserve System is the central bank of the United States. But that doesn't mean it's the kind of bank where you get cash from an ATM, borrow money for a home, or keep a safe deposit box. As the central bank, the Fed is tasked with a variety of responsibilities that, as a whole, promote the health, safety, and prosperity of the US economy and financial system. While commercial banks provide financial services directly to the public, the Fed provides services to commercial banks. That's why some people describe the Fed as the bank for banks."
April 27, 2026
On the web
New Fed Data: Differences in Deposits at Large vs Small US Institutions
The Federal Reserve
"A new data release from the Federal Reserve Payments Study (FRPS) puts payments activity in the context of the transaction deposit accounts that fund payments. The release reports differences between the largest depository institutions (Top 100 DIs) and all others. While the Top 100 comprise a small fraction (less than one percent) of the nearly 10,000 DIs in the United States as of 2021, they account for most of the transaction deposit account balances, 64 percent by number in 2021 and 68 percent by value."
April 24, 2026
Top Post
FedNow® Service Network Intelligence API Launching on April 28
Federal Reserve
"Federal Reserve Financial Services (FRFS) announced its latest risk mitigation tool, a new network intelligence API, will launch on April 28 for early adopters of the tool. The API provides financial institutions and service providers with receiver account-level data observed over the service, adding an extra layer of information to help participants assess the risk of a potential payment."
April 14, 2026
On the web
The Fed Is Building Competition for XRP’s Core Payments Use Case Into the Fednow Banking System
CryptoSlate
"Over the past several days, the most consequential development around XRP has come from outside crypto. On April 8, the Federal Reserve proposed allowing U.S. banks and credit unions to use intermediaries through the FedNow Service, a change the central bank said could support private-sector cross-border payment solutions. In the Fed’s own proposal details, the logic is explicit. Banks could use an intermediary, such as a correspondent bank, for the international portion of a transaction and use FedNow for the domestic U.S. leg."
April 10, 2026
On the web
What Are Stablecoins Used for Today? Estimating the Distribution of Stablecoins
Kansas City Federal Reserve
"In this Payments System Research Briefing, the distribution of stablecoins by function is depicted and three basic observations are made. First, payments are still a very small part of the stablecoin ecosystem. Second, a significant portion of stablecoins are held in bridging protocols that facilitate transfer of value between different blockchain networks; the need for this operation indicates that the stablecoin ecosystem still lacks interoperability. Third, a majority of stablecoins continue to be used in crypto finance rather than moving independently, suggesting that the stablecoin ecosystem is sensitive to the fortunes of this industry."
Education: Federal Reserve Cash Services
Federal Reserve History
"One purpose for the establishment of the Federal Reserve System was to "to furnish an elastic currency." This brief statement at the beginning of the Federal Reserve Act reflects the historical economic importance of an adequate supply of currency for payments and as a store of value. The Federal Reserve issues and distributes currency in the form of Federal Reserve notes. The Federal Reserve provides cash services to ensure that cash (currency and coin) in circulation is sufficient to meet public demand."
April 9, 2026
Top Post
Federal Reserve Board Invites Public Comment on Proposal That Would Allow U.S. Banks and Credit Unions to Use Intermediaries to Transfer Funds Through the FedNow Service
Board of Governors of the Federal Reserve System
"The Federal Reserve Board on Wednesday invited public comment on a proposal that would allow U.S. banks and credit unions to use intermediaries to transfer funds through the FedNow Service. This additional flexibility would support new private sector use cases for the FedNow Service. For example, it would allow U.S. banks to use FedNow to transact with correspondent banks to facilitate the international portion of a cross-border payment. Currently, a transfer of funds sent through the FedNow Service can include only two U.S. banks."
March 30, 2026
On the web
Mind the Gap: AI Adoption in Europe and the U.S.
Federal Reserve
"For three decades, American workers have been pulling ahead of their European counterparts. Between 1995 and 2025, output per hour increased by 88% in the U.S. versus just 30% in the 20 countries using the euro. Now, a new wave of technology is arriving. Advances in artificial intelligence (AI) have the potential to reshape work across many sectors of the economy. As with the ICT revolution, the economic impact of AI will depend critically on how quickly and broadly workers and firms adopt it. Will the U.S. again pull ahead, or will Europe be able to close the gap?"
March 23, 2026
Top Post
Federal Reserve Payments Study (FRPS)
Federal Reserve
"The Federal Reserve Payments Study (FRPS) is an ongoing effort to estimate aggregate trends in noncash payments in the United States, offering a periodic benchmark of developments in the U.S. payments system to policymakers, the industry, and the public."
March 20, 2026
On the web
Education: Federal Reserve: Automated Clearing House Payments
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. In the late 1960s and 1970s, the Federal Reserve and the banking industry shared the common goal of moving beyond paper checks. Some contemporaries feared "that the check system was going to grind to a halt" because of growing volumes (Howard 1981)."
March 16, 2026
On the web
Sorting Through the Issues Surrounding Stablecoin
Atlanta Federal Reserve
"One way to demystify stablecoin is to think of this digital currency as the latest innovation in money, another step in the evolution to improve payments efficiency that began in Eurasia as early as 750 BCE. Considered from this perspective, it's no surprise that discussions around stablecoin have reached the level it has now that the federal government has authorized its use in the United States, though it's important to note that stablecoins are not backed or insured by the US government. Instead, under the new law, payment stablecoins must be backed one-to-one by high-quality, segregated reserves, primarily US dollars, Treasury bills, or cash equivalents."
March 9, 2026
On the web
Do Discounts Make an Impact at the In-Person Point of Sale?
Atlanta Federal Reserve
"Behavior patterns or habits, rooted in neuroscience, are often performed automatically. For example, when you approach a cashier at the grocery store, you may reach for your credit card without thinking. Is there anything that would persuade you to reach for your checkbook or debit card instead? If you're thinking that the incentives for making a change would need to be strong, you're not alone. In a recent analysis with Oz Shy and Joanna Stavins, stated preferences and inertia lead us to use our favored payment methods. Discounts or surcharges offered at the point of sale intended to influence us to use other payment methods may not overcome those habits. The analysis uses data from the 2024 Survey and Diary of Consumer Payment Choice."
February 25, 2026
Top Post
New Data on Card-Present and Card-Not-Present Fraud Rates in the United States
Kansas City Federal Reserve
"Recently updated data show that the card-present fraud rate of non-prepaid debit cards increased for transactions on single-message networks from 2021 to 2023 but decreased for dual-message networks—reversing a previous trend. The card-not-present fraud rate for both types of networks continued its upward trend. Cardholders’ fraud loss rates also continued to increase for both card-present and card-not-present transactions on both types of networks."
February 17, 2026
On the web
Merchant Steering of Consumer Payment Choice
Atlanta Federal Reserve
"This paper investigates the degree to which merchants influence consumers' choice of how they pay for transactions. Using data from the Survey and Diary of Consumer Payments Choice, we examine consumers' adherence to their preferred payment method when making in-person transactions. We also investigate whether merchants are able to steer consumers away from their preferred payment method."
February 5, 2026
On the web
Merchant Steering of Consumer Payment Choice
Federal Reserve Bank of Boston
"This paper analyzes data from a consumer payment survey and diary to identify reasons why consumers often deviate from their preferred payment method when making in-person purchases. In particular, it investigates the degree to which merchants influence consumers’ payment choice—cash, debit, or credit card—and whether they are able to steer consumers from their preferred payment method."
February 3, 2026
On the web
The B2B Opportunity in Instant Payments
FRB Services
"Rising B2B transaction volume, increasing digitization of business processes, and emerging payment technology opens the door to shifts in the B2B payment sector. Banks and service providers have the opportunity to provide new payment offerings, including instant payment options, to help businesses move to a more modern, automated payments experience. A new white paper about B2B payments modernization explores the current B2B payments landscape, how it’s changing, and the value businesses see instant payments providing."
January 29, 2026
On the web
Account Takeover Fraud: A Persistent Threat
Federal Reserve
"The wide availability of PII, new tools to automate account takeover, and the use of generative AI to make phishing and impersonation more convincing undoubtedly have contributed to the persistent threat of account takeover fraud. Given evolving uses for automation and AI in the fraud ecosystem, account takeover is likely to be a continued challenge for financial institutions and their customers for the foreseeable future. To help combat it, financial institutions can implement a layered approach to enhance account takeover detection and prevention."
January 15, 2026
On the web
Infographic: Fednow® Service 2025 Recap
FRB Services
"Momentum of the network is strong. Participating financial institutions are leveraging the service to meet demands, improve customer experience and gain a competitive edge. Nearly 1,600 participating financials institutions across all 50 states. Click to see more."
January 12, 2026
On the web
Why Do Businesses Still Use Paper Checks?
Atlanta Fed
"The 2024 Federal Reserve Payments Insight Business Study by Federal Reserve Financial Services (FRFS) found that paper checks remain a leading payment method among the nation's small businesses. Despite the growing availability of digital alternatives, businesses with less than $10 million in annual revenue continue to rely on checks for their outgoing payments. The study found that nearly 80 percent of "Very Small" firms with revenue under $1 million use checks while "Small" firms lead all segments with 83 percent using paper checks for business payments."
Federal Reserve Financial Services to Take New Actions to Support Penny Circulation
FRB Services
"Federal Reserve Financial Services (FRFS) today announced new actions to better support the circulation of pennies for commercial activity. Beginning on Jan. 14, the Federal Reserve will resume accepting pennies from banks and credit unions at commercial coin distribution locations providing services under arrangements with the Federal Reserve that were previously suspended."
December 19, 2025
Top Post
Federal Reserve Board Publishes Its Biennial Report on Debit Card Transactions, Which Summarizes Information Collected From Large Debit Card Issuers and Payment Card Networks
Board of Governors of the Federal Reserve System
"The Board published its biennial report on debit card transactions, which summarizes information collected from large debit card issuers and payment card networks. The report, required by law, provides data on interchange fees, issuer costs, and fraud losses related to debit card transactions performed in 2023. [Click for Report]"
On the web
Federal Reserve Board Requests Public Input on “Payment Account,” Which Eligible Financial Institutions Could Use for the Limited Purpose of Clearing and Settling Their Payments
Board of Governors of the Federal Reserve System
"The Federal Reserve Board requested public input on a "payment account," which eligible financial institutions could use for the limited purpose of clearing and settling their payments. A payment account would be distinct from a master account, which is what financial institutions currently use to access payments services from the Fed. A payment account would not pay interest, not have access to Fed credit, and would be subject to balance caps, among other features that separate it from a master account."
December 17, 2025
On the web
Infographic: FedNow® Service Year In Review
FedNow
"The FedNow Service network has expanded to nearly 1,600 participants and is poised for continued growth. Momentum of the network is strong. Participating financial institutions are leveraging the service to meet demands, improve customer experience and gain a competitive edge. Check out our new infographic to see highlights from 2025."