Rapid innovation is changing the array of financial services and payment options available to customers. To examine the driving forces behind the surge of innovation and the adoption of new technology, the Payment Cards Center and the Research Department of the Federal Reserve Bank of...

Consumer confidence in payment card systems has been built up over many decades. Cardholders expect to use their cards to execute payment instructions in a reliable and timely manner. Data breaches that degrade the perceived safety and reliability of payment cards may weaken consumer confidence...

Fraud alerts — initial fraud alerts, extended fraud alerts, and credit freezes — help protect consumers from the consequences of identity theft. At the same time, they may impose costs on lenders, credit bureaus, and, in some instances, consumers. We analyze a unique data set of anonymized...

The Payment Cards Center of the Federal Reserve Bank of Philadelphia and the Center for Financial Services Innovation conducted this research project using transaction-level data provided by Meta Payment Systems in an effort to develop a better understanding of how consumers use prepaid cards by...