Faster Payments: Evolution or Revolution? Webinar
This webinar will help bankers and payment professionals understand how Faster Payments Service (FPS) and other payment systems are changing the landscape and introducing a new wave of innovation into the marketplace.
The Federal Reserve Bank’s report, Strategies for Improving the U.S. Payment System, and industry analysts are recommending a new U.S. payments system modeled on the one implemented in the United Kingdom. This would have an interesting effect on the Automated Clearing House (ACH) and U.S. payments in general. NACHA (National Automated Clearing House Association) is in agreement and has taken steps to move to same day ACH as an alternative to a new payments system. Other systems are weighing in and bringing their own agendas.
Why Should you Attend:
Many banks have begun to think of faster payments as inevitable. Given that mobile payments have become ‘real-time’, its land-based forerunner will need to catch up as well as an estimated 20 or more countries around the globe.
This webinar will cover the following areas:
Objectives of the Presentation:
- United Kingdom Faster Payments Service (FPS)
- The U.K. Payment System before the FPS
- FPS Costs
- FPS Implementation
- Benefits of such a system
- Implications for the United States
- Value of the benefits versus costs of adopting the service?
- Impact on existing systems
Faster payments system in other countries
Structure of FPS versus U.S. systems
U.K. and U.S. infrastructure and governance differences
FPS cost/benefit and decision process
Real-time vs. Same Day payments considerations
Impact on current payment systems