Today's panel on fraud containment has been asked to identify the most common forms of retail payments fraud; the most effective fraud reduction tools, especially those pertaining to real-time payments; and approaches that payment providers and merchants take to balance fraud risk and consumer...

The Board of Governors of the Federal Reserve System has engaged the public in its consideration of a USD Central Bank Digital Currency (USD CBDC). The Board has framed USD CBDC issues principally around payment market access and efficiency, tending to overlook questions CBDC raises about the...

The “cashless and checkless” society has been a dominant theme in the thinking of bankers for twenty years. Because electronic funds transfer (EFT) represents a breakthrough in the payment process, most discussions of electronic payments have dealt only with expected future developments. In...