The Center for Payments™ is a joint program sponsored by eleven payments associations for the purpose of helping members and staff better prepare for the continued evolution in U.S. payment systems. The mission of the Center for Payments is to advance the payments industry as a united voice through market intelligence and thought leadership. This program further enhances the value of membership in the participating associations.
Current participants in the program include: ePayResources, EPCOR, MACHA, NEACH, PaymentsFirst, SHAZAM, Southern Financial Exchange, The Clearing House Payments Authority, UMACHA, WACHA, and WesPay.  These associations represent over 10,000 financial institution members, businesses and stakeholders with an interest in U.S. payment systems.

 Market Intelligence

Payments industry insight is critical to all financial institutions, regardless of size or capability. The eleven payments associations that sponsor the Center for Payments together have nationwide reach and the ability to gather insights about our members’ evolving payments needs in order to provide them with access to the actionable data needed to improve and grow their payments capabilities.

Readiness for Faster Payments in the U.S. Study

The full survey results and a white paper are available to payments association members only. Contact your payments association for more information.

As the payments industry continues to evolve, how are small to midsize financial institutions integrating payments innovation and change into strategic planning? This study, conducted by the Center for Payments, surveyed payment systems participants from across the United States to examine how financial institutions and others are planning or implementing a payments strategy and adopting new technologies, like faster payment solutions.

The key objectives of the study were:

  • Identify key trends in the payments industry
  • Evaluate awareness and membership/use of faster payments working groups/providers
  • Assess current state of readiness for faster payments implementation
  • Explore opportunities to provide knowledge, assistance and support to member organizations

Over 700 total organizations completed the study, with 94% being financial institutions and 6% Third-Party Service Providers.

Many of the organizations that completed the study indicated that they need guidance and assistance with payments strategy, including information on faster payments key players and how faster payments work. Many also expressed concern that they don’t have the technology in place necessary to implement faster payments and that they are willing to look outside their core provider for products.

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Demand for Faster Payments

Institutions that currently experience demand for Faster Payments or expect to in 1-2 years: 0%

Payments Strategy

Institutions that have a Payments Strategy in place: 0%

Confidence in Core Providers to Provide Necessary Products

Institutions with a high degree of confidence: 0%

Third-Party Vendors

Institutions that are willing to use a third-party vendor for additional products and services: 0%

For a full copy of the study results, contact your payments association.

 Strategic Relationships

The 11 associations sponsoring the Center for Payments have over 40 years’ experience supporting the evolution of the U.S. payment systems by providing guidance to the industry, and by partnering with rule makers, regulators and other industry partners. All 11 associations are individual members or supporters of Nacha, ECCHO and the Faster Payments Council and participate in the rule making processes of those organizations. The associations are also actively engaged in other industry development activities led by The Clearing House, Federal Reserve Financial Services, regulators and other industry partners.

 

Payments Associations

Support & Expertise in All Payments Networks

Payments associations share a common goal of improving U.S. payment systems quality through industry representation, education and support. Payments associations are staffed with accredited payment systems experts including Accredited ACH Professionals (AAPs), Accredited Payments Risk Professionals (APRPs), National Check Professionals (NCPs) and fraud and risk professionals dedicated to providing training and guidance for faster payments, rules, regulations and U.S. law related to the ACH, check, card, image, wire and emerging payment systems.

Payments Associations are the most trusted source of payments information according to the Center for Payments Readiness for Faster Payments in the U.S. Study.

Learn More

(800) 475-0585
www.ePayResources.org

(800) 500-0100
www.epcor.org

(410) 859-0090
www.macha.org

(781) 321-1011
www.neach.org

(866) 993-3753
www.paymentsfirst.org

(800) 537-5427
www.shazam.net

(504) 525-6779
www.sfe.org

(800) 875-2242
www.theclearinghouse.org

(800) 348-3692
www.umacha.org

(262) 345-1245
www.wacha.org

(415) 433-1230
www.wespay.org