Faster Payments: Market Structure and Policy Considerations

November 29, 2017
By Fumiko Hayashi, Payments Policy Advisor and Economist , Aaron Rosenbaum, Garth Baughman, Mark Manuszak, Kylie Stewart and Joanna Stavins


Research Working PaperEach of the three hypothetical market structures that may emerge for faster payments in the United States has advantages and disadvantages in meeting public policy objectives of efficiency, safety, and ubiquity. Tools are available to promote positive outcomes in each structure.

Download paper, RWP 17-14, November 2017

JEL Classification: G21

Article Citation

  • Rosenbaum, Aaron, Garth Baughman, Mark Manuszak, Kylie Stewart, Fumiko Hayashi, and Joanna Stavins. “Faster Payments: Market Structure and Policy Considerations.” Federal Reserve Bank of Kansas City, Research Working Paper no. 17-14, November. Available at https://doi.org/10.18651/RWP2017-14