The U.S. payments industry is in the process of developing ubiquitous, safe, faster electronic solutions for making a broad variety of business and personal payments. How this market for faster payments will evolve will be shaped by a range of economic forces, such as economies of scale and...

Authors' note: This paper reports on a research effort by Federal Reserve staff to examine market structure implications in the still‐emerging faster payments market. The analysis and conclusions in this paper are those of the authors and do not indicate official positions of the Board of...

The U.S. payments industry is in the process of developing ubiquitous, safe, faster electronic solutions for making a broad variety of business and personal payments. How this market for faster payments will evolve will be shaped by a range of economic forces, such as economies of scale and...