Retail Payments Risk Forum

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Publications

A Summary of the Electronic Payment Order Forum
Mary Kepler, Federal Reserve Bank of Atlanta
Retail Payments Risk Forum
May 2013
The electronic payment order (EPO) does not fit neatly into the current legal or regulatory payments infrastructure. To begin the process of defining EPOs and moving toward a clear legal outcome, the Atlanta Fed recently hosted the EPO Forum with payments industry participants.

U.S. Mobile Payments Landscape—Two Years Later offsite
Marianne Crowe, Susan Pandy, and Elisa Tavilla, Federal Reserve Bank of Boston; Cynthia Jenkins, NACHA
May 2013
The Federal Reserve Banks of Boston and Atlanta have rereleased a paper based on several meetings of the Mobile Payments Industry Workgroup. This paper, which updates the original version issued in 2011, reflects the evolution of the mobile retail payments industry over the last two years.

A Summary of the Final Remittance Transfer Rule (Section 1073) PDF icon
Azba Habib, Associate Counsel
Federal Reserve Bank of Atlanta
Legal Summary
May 2013
Section 1073 of the Dodd-Frank Act creates new protections for U.S consumers sending money abroad. This article describes the background for the rule, explains what the rule covers, and clarifies exceptions to the rule.

Mitigating Online Account Takeovers: The Case for Education PDF icon
Michelle Castell, Federal Reserve Bank of Atlanta
Retail Payments Risk Forum Survey Paper
April 2013
As the world becomes more tech-reliant, consumers and businesses are also more at risk for account takeover fraud—to the tune of $4.9 billion lost in 2012. Why is this happening? How can we protect ourselves? Read highlights of recent studies and get tips.

Have Anti-Money Laundering Measures Kept Pace with the Rapid Growth of GPR Prepaid Cards? PDF icon
Douglas King, Federal Reserve Bank of Atlanta
Retail Payments Risk Forum Working Paper
January 2013
General purpose reloadable (GPR) prepaid cards are one of the fastest-growing consumer payment methods. A new research paper from the Atlanta Fed's Retail Payments Risk Forum looks at the measures adopted by regulators and the industry to minimize the incidence of these cards being used to launder money.

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The U.S. Regulatory Landscape for Mobile Payments PDF icon
Marianne Crowe, Federal Reserve Bank of Boston and Mary Kepler and Cynthia Merritt, Federal Reserve Bank of Atlanta
Retail Payments Risk Forum White Paper
July 30, 2012
Mobile phones are such a new entrant into the payments field that questions about potential gaps in regulations have arisen. A paper cowritten by Atlanta and Boston Fed payments experts summarizes meetings of the Mobile Payments Industry Workgroup that were held over 2010 and 2011 to address some of these questions. The paper is also available at the Boston Fed.

Chip-and-PIN: Success and Challenges in Reducing Fraud PDF icon
Douglas King, Federal Reserve Bank of Atlanta
Retail Payments Risk Forum Working Paper
January 2012
While payment cards in much of the world are chip-enabled, U.S. cards continue to depend on magnetic-stripe technology. The Retail Payments Risk Forum's Douglas King, a payments risk expert, has published a working paper exploring the experiences of several countries that have moved away from the magnetic stripe.

Peer-to-Peer Payments: Surveying a Rapidly Changing Landscape PDF icon
Jennifer Windh, Federal Reserve Bank of Atlanta
Retail Payments Risk Forum Working Paper
August 2011
Peer-to-peer (P2P) payment products are some of the most innovative developments from the payments industry in the past decade. Despite the range of innovative offerings, the industry lacks a standard understanding of how the various P2P payments in the market work. This paper offers a framework to organize a discussion of P2P payments and evaluate the associated risks.

Mobile Payments in the United States: Mapping Out the Road Ahead PDF icon
Darin Contini and Marianne Crowe, Federal Reserve Bank of Boston, Cynthia Merritt and Richard Oliver, Federal Reserve Bank of Atlanta, and Steve Mott, BetterBuyDesign
Retail Payments Risk Forum White Paper
March 2011
The Federal Reserve Banks of Atlanta and Boston, through their Retail Payments Risk Forum and Payments Research groups, recently convened the Mobile Payments Industry Workgroup to focus on the emerging U.S. mobile payments ecosystem. Envisioning an efficient and ubiquitous mobile payments environment, the workgroup recently published a research paper about the future of point-of-sale mobile payments in the United States. The paper is also available at the Boston Fed.

Mobile Money Transfer Services: The Next Phase in the Evolution of Person-to-Person Payments PDF icon
Cynthia Merritt
Retail Payments Risk Forum White Paper
August 2010
Money transfer services for domestic and international remittances are shifting from traditional providers to wireless carriers who compete for consumer market share on the basis of technological ubiquity and lower costs. This paper reviews developments in mobile money transfers, the emerging ecosystem, and participants and business models, and also examines the implications of payment systems crossing geographic borders.

An Examination of Remotely Created Checks PDF icon
Ana R. Cavazos-Wright
Retail Payments Risk Forum White Paper
May 2010
Remotely created checks can be useful payment devices. However, they are also susceptible to fraud. This paper explores these issues, their unique risk-management challenges, and who can best manage these challenges.

A Method for Improving the Benchmarks Used to Monitor ACH Returnsoff-site image
Federal Reserve Bank of Minneapolis
Financial Policy Working Paper
Ron J. Feldman, Senior Vice President; Mark Lueck, Economist; and Richard M. Todd, Vice President; Federal Reserve Bank of Minneapolis
Olivier Armantier, Research Officer; Michele Braun, Officer; Dennis Kuo, Economist; Federal Reserve Bank of New York
March 2010

Remote Deposit Capture for Consumers: Is It Niche or Mainstream? PDF icon
Jennifer R. Grier
Retail Payments Risk Forum White Paper
December 2009
Consumer remote deposit capture presents new opportunities for banks to gather deposits while providing an appealing self-service option for bank customers. This paper provides an overview of consumer capture and examines whether this service will be widely adopted by banks.

Interchange Fees and Payment Card Networks: Economics, Industry Developments, and Policy Issues off-site image PDF icon
Robin A. Prager, Mark D. Manuszak, Elizabeth K. Kiser, and Ron Borzekowski
Board of Governors Finance and Economics Discussion Series (FEDS)

Portals & Rails 2009 Compendium PDF icon

The Evolution of the Check as a Means of Payment: A Historical SurveyPDF icon
Stephen Quinn and William Roberds
Federal Reserve Bank of Atlanta Economic Review No. 4, 2008