The report is developed by the FPC Network Committee and is available for download in the FPC’s Faster Payments Knowledge Centre. It provides an update on the market for instant and immediate payments services in the US, focusing on the various underlying payment networks.
This report will be updated and augmented on a regular basis. The payments networks the report focuses on are those in which the transmission of the payment message and the availability of final funds to the payee occur in real-time or near real-time, and on as near to a 24-hour and seven-day (24/7) basis as possible.
State of Play in U.S. Faster Payments report highlights ways in which consumers and businesses are using faster payments today, and how these applications have addressed the challenges of COVID-19. The resource also breaks down features of the networks, from types of transactions processed (credits vs debits) to the fraud and risk control measures in place for each. It also provides an understanding of how funds move on the networks, delivering a clear picture of the real-time transactional process.
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