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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."
December 16, 2025
On the web
Announcing 2026 Federal Reserve Financial Services Fees and Payment System Enhancements
Federal Reserve
"Federal Reserve Financial Services (FRFS) customers can expect in 2026 ongoing enhancements to the services, including, helping combat payments fraud: Payee Name Verification an addition to the FedDetect Notification Services; A FedNow pilot program is underway for an upcoming network intelligence tool that will allow financial institutions sending transactions over the FedNow Service to do a “pre-check” on receiver accounts before making an instant payment & support of expanding APIs. To continue providing a level of service, some prices are being adjusted, and some are unchanged."
December 15, 2025
On the web
Stablecoins and Financial Stability
Richmond Federal Reserve
"The United States has introduced a new stablecoin regulatory framework, but concerns over the cryptocurrency’s place in the global economy remain. Skeptics and supporters alike agree that stablecoin adoption is likely to increase in the coming years. An important question, however, is whether it will attract new users looking for a new form of payment."
December 10, 2025
On the web
U.S. Faster Payments Council Study Highlights Instant Payment Adoption Drivers and Opportunities
FedPayments Improvement
"A study of U.S.-based third-party enablers to financial institutions signals that instant payments are continuing to reach new heights due to interest in a widening and diversifying set of use cases for these types of transactions, according to the U.S. Instant Payments Adoption Quantitative Study published by the U.S. Faster Payments Council (FPC). In addition, the study shows that instant payment growth is being shaped by a combination of perceived benefits, access to the correct technology and emerging standards."
December 8, 2025
On the web
Big Firms Bet on Agentic Artificial Intelligence (AI) in Payments
Atlanta Fed
"Agentic AI has the potential to reshape the payments landscape. It refers to autonomous systems that can work together toward a goal. They learn to make decisions that spark actions and adapt to situations based on their programming and data gathering. So, is this technology a significant improvement for the US payment system, or is it accelerating an already complex system of payments innovation?"
December 5, 2025
Top Post
Federal Reserve Board Requests Public Input on the Impact of Potential Strategic Changes to Check Services Provided by the Fed
Board of Governors of the Federal Reserve System
"The Federal Reserve Board requested public input on the impact of potential strategic changes to check services provided by the Fed, as well as check usage and preferences. Over time, check use has steadily declined, digital payment methods have grown in availability and use, and check fraud has risen. Also, the Reserve Banks will need to make substantial investments in their check infrastructure to continue providing the same level of check services going forward."
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."
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