Fed Tells Payments' Future
A lot has changed about the mobile payment scene since 2009, when several of the industry’s biggest names started attending meetings hosted by the Federal Reserve. Now, the Fed-led Mobile Payments Industry Workgroup has all sorts of momentum behind it.
Marianne Crowe, vice president of payment strategies for the Federal Reserve Bank of Boston, has been at the head of this collaborative effort, working in conjunction with the Atlanta Fed to bring mobile carriers, payment networks, issuing banks, and other major players together for a conversation about the industry’s future.
The group met most recently in April, when regulatory issues were the focus of the discussion. Since the meetings started three years ago, it seems every major relevant issue in mobile payments has been discussed (NFC is less a focus now, Crowe says, while EMV has become a bigger priority).
PYMNTS.com spoke to Crowe to learn about the Mobile Payments Industry Workgroup’s past, its current focus and agenda, and what to expect from the group in the coming months.
Listen to the full conversation here.
Vice President, Payment Strategies Group and CPRC Payments Liaison, Federal Reserve Bank of Boston
Marianne Crowe is a vice president in the Treasury and Financial Services department of the Federal Reserve Bank of Boston. She serves as the Mobile Payments Project manager and payments liaison to the Consumer Payments Research Center. Her previous roles at the Boston Fed include vice president/project manager in the Consumer Payments Research Center, assistant vice president of business development, the National Image Archive service, and the Boston check operations. Prior to joining the Fed in 2000, Crowe worked at BankBoston in project and operations management positions. Crowe has been a member of the FSTC mobile payments workgroup and the NACHA Internet Council.
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