Faster Payments Council releases new service provider catalogue

The release was sponsored by The Clearing House and the FPC Education & Awareness Work Group (EAWG). The new product was developed to supplement the Faster Payments Solution Provider Catalogue, which debuted previously last year. 

The new catalogue offers customers, merchants, and businesses details about several payment services that are currently provided by the Faster Payments Council members. The solutions can be sorted by the clients depending on their preferences. These include services for Direct Customer (such as information about banks, credit unions, merchants/businesses/corporates, consumers, and third-party processors), Faster Payment Services (RTP, Same Day ACH, Push to Card, or FedNow), or Use Case Type (B2B-B2G, P2P, H2HC-H2B, C2B-C2G, A2A/me2me). 

Each service provider has its profile, which includes a snapshot of the solutions offered by them. 

The Faster Payments Service Provider Catalogue represent the latest debut of the Education & Awareness Work Group. This will continue to expand over time, as more members and users of FPC add details and information about their current suite of services for their client base. Furthermore, alongside the catalogues, the EAWG recently published the Use Case Repository resource. This included concepts of use cases that propose a strategic, logical, and efficient use of faster payments, as well as an actual list of case studies from the FPC member organisations. 

Faster Payments Council’s strategy 

Being a US-based industry-led membership organisation, the Faster Payments Council aims to offer customers across the world a secure and efficient payment system, where they can pay anyone, from anywhere, at any time, with near-immediate funds available. Furthermore, the organisation uses different approaches to include faster payments adoption across the country, while enabling customers to try a diverse range of perspectives and its stakeholders in the US payment system. 

The aim of the newly released Faster Payments Service Provider Catalogue is to offer organisations the possibility to develop their faster payment strategy. The new resource was built to give value-added service providers information and details, so all companies and businesses can benefit from it. 

The interactive catalogue represents a part of EAWG’s strategy to offer ongoing education and awareness of the faster payments industry while complementing and providing further details from the catalogues published last year. 

The Faster Payments Council prioritises the inclusion of diverse perspectives and opinions about complex subjects, such as the identification of real-world solutions that can ease the adoption of faster payments, interoperability, ways of managing security risks, online and fraud threads, or addressing barriers to financial inclusion and cross-border payments.