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
In May 2013, I wrote a CTO Corner about Bitcoin1 where I reviewed how it works as well as factors that are both driving and inhibiting its acceptance in the marketplace. This article updates my assessment based on events that have occurred during the 18 months. Bitcoin is an electronic cash system using peer-to-peer networking, digital...
This week I got hacked. I wouldn’t be writing this if it had been the first time but I’ve been an unlucky, serial victim of theft. So what am I doing next? I’m changing absolutely nothing.
Greater focus on addressing cybersecurity challenges across all industries is critical in defending against common enemies and today’s White House announcement on cybersecurity will continue to advance this important discussion.
Over the last few years, we have seen a growing number of new innovative product offerings in the payments area. Three events are contributing to this accelerating rate of innovation:
Speeding up the process of authorizing, clearing, and settling payments in the U.S. is a hot topic of debate in the financial services industry and in the federal government, particularly at the Federal Reserve.