Payments on Fire Episode 10, originally aired: October 27, 2014
What does a new carpet in a bank branch have in common with a new payment system?
We find ourselves pondering many questions since the FedNow® launch, the third fast payments network introduced in the US.
Since the launch of Zelle in 2014, some big questions remain unanswered: What do we call this new system? Instant Payments, Faster Payments, Real-time Payments, or Fast Payments? What distinguishes a fast payments system from one that moves money fast – like PayPal or Venmo? Will we embrace these new networks in all the payment domains – the way Brazilians are embracing Pix? Or, will we use them judiciously, just when it’s necessary or convenient (because we’re quite happy with the way things are, thank you very much)?
To gain perspective on the questions that have been asked and answered, and those that remain, we’re giving a second listen to Episode 10 – when George Peabody sat down with Carol Coye Benson to discuss The Clearing House’s announced plans for a multi-year effort that resulted in their fast payments network, RTP®.
In 2014, Carol discussed topics that still hold true today – explaining the essence of a fast payments system and key concepts like the importance of brand for end-user adoption, the role of ubiquity in the success of a new network, and the use cases that could benefit from fast payments systems.
So, what does a new carpet in a bank branch have in common with a new payments system? Listen and find out. And if you want to know more about the future of fast payments in the U.S., join us for our first Payments on Fire Live Stream on September 14, where Glenbrook will be speaking with industry experts from The Clearing House and Federal Reserve Financial Services.
Drawing on 24 years of experience in payments and risk management, Yvette has held many roles at Glenbrook, including facilitating Payments Boot Camp® workshops, hosting the Payments on Fire™ podcast, and developing industry-focused curricula. She is a “40 under 40” Portland Business Journal award recipient, Bank of America Inventor of the Year nominee, and the co-author of the highly anticipated “Payments Systems in the U.S. – Fourth Edition.”
Before joining Glenbrook, Yvette was the chief risk officer at eBay, a finance leader at Google, and the chief operations officer at YapStone. She has been an advisor to CapitalG and a mentor for 500 Startups. During her career, Yvette led payments strategy as a Director for Bank of America Merrill Lynch, led Global Payments Core Product Management at Amazon, and was a founder and the chief technology officer of PaylinX Corporation, which pioneered payment and fraud solutions for online merchants.