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This Faster Payments Assessment Summary from the Fed follows on from their series of meetings in June discussing the US ACH infrastructure. It is clear they are looking at how other countries like the UK (Faster Payments Service), Finland (Finvoice), Singapore (G3) have been implemented to speed up the payments system.
Faster Payments Assessment Summary (Off-site Link) - To further explore the needs related to faster retail payments, Reserve Banks engaged a consultant in early 2014 to conduct a high-level assessment of alternatives for speeding up U.S. payments, including the exploration of a near-real-time retail payment system. The effort sought to identify the features and functionality required in an enhanced system and feasible alternatives for achieving the desired features and functionality.
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