Payments

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FSR advocates on behalf of members that provide and use payment products and services to promote fair competition, innovation and a vibrant payments industry.  Advocacy efforts focus on identifying trends, opportunities and challenges in a dynamic payments ecosystem, and addressing regulatory and compliance issues.

Current Payments Priorities:

  • Payments Innovation & Disintermediation
  • Payments System Modernization
  • Payment Security, Fraud and Authentication
  • Bank Secrecy Act/Anti-Money Laundering Requirements (BSA/AML)
  • Interchange Legislation & Litigation
  • Debit, Credit and Prepaid Cards
House Data Security Legislation Will Protect Consumers and Help Stop Breaches

FSR applauded the introduction of H.R. 2205, the Data Security Act of 2015, a bipartisan measure by Congressman Randy Neugebauer (R-TX) Congressman John Carney (D-DE) that will help prevent data breaches by enacting strong new protections for sensitive financial information and establish uniform guidelines to ensure customers receive timely...

CTO Corner: Identity Proofing and Authentication

This CTO Corner discusses current identity proofing and user authentication processes, reviews current weaknesses, identifies current efforts to strengthen them, and explores what else the financial services community could be doing. User identification and authentication are key components of any system that needs to restrict access to its data...

Senate Data Breach Protection Bill a Positive Step Toward Protecting American Consumers

FSR announced its support for a bipartisan bill by Senators Tom Carper (D-DE) and Roy Blunt (R-MO) that will help prevent data breaches by enacting strong new protections for sensitive financial information and establish uniform guidelines to ensure customers receive timely notification when a breach happens.

CTO Corner: Tokenization in Financial Services

Data breaches at merchants and rising concerns about payment fraud is driving greater interest in “tokenization.” Tokenization also addresses other long-standing concerns including the increasing proliferation and accessibility of customer credentials and sensitive information over the network. This CTO Corner discusses tokenization,...

FSR Comments on Same-Day ACH and Interbank Fees

FSR, along with other trades, supports NACHA’s efforts to move to same-day ACH, and strongly believes that an interbank fee and an ability to recover costs must be part of any final outcome.