Nonbanks in the Payments System 2013 Landscape Mobile technology as a 2 nd Internet revolution...
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Nonbanks in the Payments System 2013 Landscape • Mobile technology as a 2 nd Internet revolution • Complexity and interdependency combined with escalating threats • Blurring of commerce and payments • Fragmentation of solutions and closed networks • Clarifying roles of banks and Federal Reserve Bank of Kansas City 2007 International Payments Conference
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Transcript of Nonbanks in the Payments System 2013 Landscape Mobile technology as a 2 nd Internet revolution...
Nonbanks in the Payments System
2013 Landscape• Mobile technology as a 2nd Internet revolution• Complexity and interdependency combined with
escalating threats• Blurring of commerce and payments• Fragmentation of solutions and closed networks• Clarifying roles of banks and nonbanks
Federal Reserve Bank of Kansas City2007 International Payments Conference
Desired Outcomes: Ten-Year Horizon
Ubiquitous Real Time Payments
Efficiency through Electronification
Improved Cross Border Payments
Enhanced Safety and Security
Strategic Industry Engagement
INTERNAL FR 2
Federal Reserve Banks’ Payment System Improvement Public Consultation Paper
• Seeking input from payment industry and end users on:
– Payments system gaps, opportunities and desired outcomes
– Potential strategies and tactics to shape the future of the U.S. payments system
– The Federal Reserve Banks’ role in implementing these strategies and tactics
• Comments are due December 13, 2013
INTERNAL FR 3
Respond via online survey at FedPaymentsImprovement.org
Respond via email to [email protected]
