Payments System Research Briefings Archive

Payments System Research Briefings cover range of payments topics, including types of payment methods, developments in payments networks, and various participants' roles in the payments system.

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77 result(s) found
Article Title Author(s) Date Type

Card-Not-Present Fraud Rates in the United States After the Migration to Chip Cards

Unlike many other countries, the United States did not see a surge in the “card-not-present” fraud rate immediately after migrating to chip-card technology. Instead, the U.S. card-not-present fraud rate of non-prepaid debit cards has increased gradually over the past decade. Merchants’ and cardholders’ card-not-present fraud loss rates have increased for both dual- and single-message networks, while issuers’ card-not-present fraud loss rate has increased for single-message networks.

Payments Payments System Research Briefing
Fumiko Hayashi Expandable Row
May 21, 2025
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Has Access to Bank On-Certified Accounts Helped Ease Financial Barriers to Bank Account Ownership?

The Bank On initiative has increased the availability of safe, low-cost bank accounts over the past decade, which may help alleviate financial barriers to bank account ownership. Data suggest that this increase in availability has helped ease a key barrier—the inability to meet the minimum balance required to waive monthly account fees—but has not eased the barrier of high or unpredictable fees.

Payments Payments System Research Briefing Banking and Finance
Ying Lei Toh Expandable Row
May 14, 2025
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Game Changer: The Evolution of Video Games’ Payments Infrastructure

Video games’ evolving revenue models and payments infrastructure have helped the industry boom.

Payments Payments System Research Briefing
Sam Baird
Julian Alcazar
Sam Baird Expandable Row
April 9, 2025
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Did Card-Present Fraud Rates Decline in the United States After the Migration to Chip Cards?

The U.S. payment industry began migrating to EMV chip-card technology in the mid-2010s to mitigate card-present fraud, especially counterfeit fraud. However, for non-prepaid debit card transactions processed by dual-message networks, the counterfeit fraud rate has not declined, and the lost-or-stolen fraud rate and overall card-present fraud rate have increased. For these transactions, card-present fraud loss rates have declined for issuers but increased for merchants and cardholders.

Payments Payments System Research Briefing Banking and Finance
Fumiko Hayashi Expandable Row
February 12, 2025
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Could Municipal IDs Facilitate Access to Financial Services?

Of the approximately 5.6 million U.S. households that did not have a bank or credit union account in 2023, about 13 percent cited not having the identification (ID) required to open an account as a reason for being unbanked. Municipal ID programs provide a form of local identification and can be designed to facilitate access to banking and financial services, though challenges to achieving this potential remain.

Payments Payments System Research Briefing Banking and Finance
Terri Bradford Expandable Row
December 4, 2024
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Combating Authorized Push Payment Scams in Fast Payment Systems

Fast payments can help consumers improve their cash flow, but the speed and irrevocability of these payments also make them a target for fraudsters seeking to commit authorized push payment (APP) scams. Combating APP scams is critical to ensuring the safety of fast payments and building and maintaining consumer confidence in fast payment systems.

Payments Payments System Research Briefing Banking and Finance
Ying Lei Toh Expandable Row
November 15, 2024
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Cash Bill Pay Services and Payment Inclusion in the United States

Cash bill pay, a service that allows consumers to pay bills with cash at participating retailers, may be one way to promote payment inclusion in the increasingly digitized U.S. economy. With this service, consumers who prefer to use cash, or those without a transaction account, can have in-person, tangible experiences paying bills.

Payments Payments System Research Briefing Banking and Finance
Franklin Noll Expandable Row
October 18, 2024
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The Role of Nonbanks and Fintechs in Boosting India’s UPI Person-to-Merchant Transactions

Unified Payments Interface (UPI), a mobile-based instant payment system in India, has grown substantially in the last few years. Indians initially used UPI for person-to-person (P2P) payments, but today use UPI more for person-to-merchant (P2M) payments. Nonbanks and fintechs have contributed to the rapid growth of UPI P2M payments by providing third-party apps, merchant services, and consumer credit, as well as enabling UPI P2M payments to expand beyond India’s borders.

Payments Payments System Research Briefing International Banking and Finance
Aditi Routh Expandable Row
August 30, 2024
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As Earned Wage Access Grows, Oversight Tries to Catch Up

Earned wage access (EWA) services have grown in popularity as more providers offer them and more businesses and consumers use them. However, the complex fee structures and high costs of EWA, as well as some users’ heavy reliance on these services, have raised concerns. Regulatory and legislative bodies have begun to respond to these concerns, with states taking the lead in proposing or passing EWA legislation.

Labor and Demographics Payments Payments System Research Briefing Banking and Finance
Terri Bradford Expandable Row
May 15, 2024
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The Role of Core Banking Services Providers in Facilitating Instant Payments

Core banking services providers play key roles helping depository institutions (DIs) offer instant payments. Specifically, core providers process transactions in real time and connect DIs to instant payments system operators, upgrade customer-facing solutions, and facilitate open banking and embedded finance. As the United States implements instant payments systems, the market structure surrounding core providers may evolve, and competition between fintechs and DIs for end users may intensify.

Payments Payments System Research Briefing Banking and Finance
Julian Alcazar
Sam Baird
Emma Cronenweth
Fumiko Hayashi
Ken Isaacson Expandable Row
May 8, 2024
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