The Federal Reserve has got some big decisions to make on faster payments

Accord­ing to Amer­ican Banker :

A report released Fri­day by the Faster Pay­ments Task Force — a group rep­res­ent­ing vari­ous stake­hold­ers, includ­ing banks, cor­por­a­tions and con­sumer advocacy groups — estab­lished an ambi­tious timeline. It said that by 2020, every­one in the U.S. should be able to receive fast, secure payments.

Faster pay­ments scorecard

The tech giants are ask­ing law­makers to man­date that the Fed ensure the avail­ab­il­ity of real-time pay­ment net­works to all Amer­ic­ans within three years, essen­tially turn­ing what is cur­rently a goal into a require­ment for the Fed.”