Exclusive Interview: Fed’s Predictions for the Future of U.S. Mobile Payments
Widespread mobile payments adoption for many in the industry is the desired destination, but clear directions on how to get there remain as confounding as driving through New York City during rush hour.
For navigational help, PYMNTS.com spoke with Marianne Crowe and Richard Oliver of the Federal Reserve, who recently surveyed a group of major industry leaders on the mobile payments ignition issue. (View Report: Mobile Payments in the United States: Mapping the Road Ahead)
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.
Richard R. Oliver is an executive vice president with the Federal Reserve Bank of Atlanta and has been with the Bank since 1973. Since 1998, he has served as retail payments product manager for the Federal Reserve System. In this capacity, he has responsibility for managing the Fed's check and ACH businesses nationwide. Earlier in his career, Mr. Oliver served as planning analyst, administrator of the Automated Clearinghouse, chairman of the Federal Reserve's Electronic Payments Implementation Task Force, manager and officer in charge of software development, vice president in charge of automation services, the Federal Reserve System's product manager for electronic payments services, officer in charge of business development and check software, and staff director for the Federal Reserve System's Policy Committee for Financial Services. He also serves on the Federal Reserve Bank of Atlanta's Management Committee. Mr. Oliver received a bachelor's degree in math from the University of Nevada, a master's degree in information and computer sciences from Georgia Institute of Technology, and an MBA in management from Georgia State University. He has also completed executive development programs at Harvard University and the University of Tennessee.