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Briefing
How Much Do Nonbank Transaction Accounts Improve Access to Digital Payments for Unbanked Households?
Nonbank transaction accounts—such as prepaid card accounts or accounts with online payment service providers—can help unbanked households make safe and affordable digital payments. But data suggest that they may not be sufficient to achieve digital payments inclusion. Less than half of unbanked households had these accounts in 2021; the rest either used paper-based transaction products or relied solely on cash.
Briefing
The Puzzle of Payments Security: Fitting the Pieces Together to Protect the Retail Payments System
This article offers highlights from the Federal Reserve Bank of Kansas City's fifth international payments conference, "The Puzzle of Retail Payments Security: Fitting the Pieces Together to Protect the Retail Payments System," hosted June 25-26, 2015.
Briefing
Where social networks, payments and banking intersect
This article explores opportunities and risks emerging from a relatively new phenomenon: The rise of commerce, banking and payments services marketed and offered through social media.
Briefing
Payments System Research: Our 2020 Vision
In this year’s first Payments System Research Briefing, senior vice president Susan Zubradt reflects on the evolution of retail payments and what lies ahead for the KC Fed’s Payments System Research group.
Briefing
How the COVID-19 Pandemic May Reshape the Digital Payments Landscape
Despite an increase in payments made via online or mobile channels in recent years, many consumers have not yet adopted digital payments. The COVID-19 pandemic may be shifting more consumers toward digital payments, along with industry and legislative initiatives designed to facilitate broader access.
Briefing
Digital, Financial, and Health Insurance Exclusion Experienced by Low-Income Households
Many low-income households are excluded from essential services such as home internet access, bank accounts, and health insurance coverage. We examine to what degree low-income households experience digital, financial, and health insurance exclusion and assess whether education and race are correlated with exclusion. We find that more than 10 percent of low-income households experienced multiple types of exclusion in 2019, with more pronounced results for households with lower educational attainment.
Briefing
Early experience with Check 21
This article looks at some of the early developments since the Check 21 law became effective and some of the remaining barriers to a more efficient and electronic check clearing system.
Briefing
Change is Coming: What the EMV Migration May Mean for Payments Innovation
This article considers how the upcoming shift from magnetic stripe to chip technology may affect the survival of card-based payment innovations.
Briefing
Stored-value cards: a card for every reason
This article discusses the various uses of stored-value cards and the different degrees of their use and acceptance four years after their introduction.