Nearly 40% of banked Americans that have mobile phones now use their handsets to access their accounts, according to research from the Federal Reserve Board.
We are pleased to share with you registration information for participation in the task forces outlined in our recently published Strategies for Improving the U.S. Payment System paper.
A senior researcher at the Federal Reserve Bank of St Louis has floated the idea of a government-backed 'Fedcoin' that uses a bitcoin-style protocol but the US dollar as the monetary object, combining the best of cryptocurrencies and cash.
The US Federal Reserve has set out a series of options for speeding up the country's antiquated payments system.
US bank-backed ACH The Clearing House is to undertake a multi-year effort to build a new real-time processing platform, as the country finally begins to get to grips with its antiquated payment systems.
The Federal Reserve Bank of Boston is to set up a working group to tackle the interoperability and technology challenges of using digital account tokens to replace card numbers for online and mobile purchasing.
The Federal Reserve Bank of Boston looks at the policy implications of bitcoin.
America's Federal Reserve Banks are moving ahead with plans to improve the country's payment infrastructure, promising to publish a roadmap in the coming months that could eventually lead to a faster payments system.
The 2013 Federal Reserve Payments Study Detailed Report, released today, provides new information on the payments landscape including updated results on the intensity of card use by consumers and businesses; further discussion of previously released information on third-party payments fraud; new estimates of over-the-counter cash withdrawals and deposits at bank branches and wire transfers made by businesses and consumers; and discussion of emerging and alternative payments likely to replace traditional payments such as cash and checks.
Bitcoin is still more of a curiosity than a threat to the banking system but in the long term the crypto-currency could have a pronounced impact on payments, according to a group of advisers to the US Federal Reserve.
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