The Federal Reserve Banks have announced publication of “Payment System Improvement – Public Consultation Paper” - a document whose purpose is "to share Federal Reserve perspectives on the key gaps and opportunities in the U.S. payment system and identify the desired outcomes that close these gaps and capture these opportunities.”
The Federal Reserve said it has recently conducted an analysis of the payment environment to understand "opportunities for improvement consistent with our vision of a safe, efficient and accessible U.S. payment system from endto-end. Some of these recurring themes centered around faster payments, closed payment communities, obstacles in international payments, the mobile technology revolution and lack of contemporary features in traditional payment channels."
The Fed is seeking input on these themes - visit the web site: FedPaymentsImprovement.org to share yours. Consultation paper responses may be submitted until December 13, 2013. All written responses will be made public and may be viewed on the Fed's website.