US Faster Payments Council Names New Leadership

Faster Payments Council

The U.S. Faster Payments Council (FPC), a membership comprised of payment industry leaders, has appointed Kevin Christensen, a senior executive at the SHAZAM network, as the acting executive director and interim board chair, according to a news release by the organization.

Christensen is one of 27 industry leaders who make up the Governance Framework Formation Team (GFFT), which guides the organization and its direction.

“I’m thrilled to be leading this organization during its early formation and ensuring the FPC is well-positioned for success in the months ahead,” Christensen said. “With more than 70 member applicants and counting, we’re already seeing a great response from the industry, and validation of our mission to ensure all Americans have access to safe, efficient and ubiquitous faster payments.”

The FPC is focused on certain key areas. One of these is safety and security, to “promote adoption of practices that enhance safety and security for service providers and users of faster payments, enabling a high-quality user experience for all and bolstering confidence and trust, which ultimately supports achievement of broader adoption.”

Also, it’s focused on end-user transparency. The FPC wants to “foster service provider strategies, policies, practices and capabilities that give end users transparency into what to expect when making faster payments, and ultimately bolstering confidence in faster payments, which results in greater adoption.”

Finally, the organization wants to promote education and awareness by developing a “program that results in better understanding of faster payments and greater confidence among providers and users, ultimately driving adoption and transaction volumes toward the industry goal of ubiquity.”

The FPC also said it’s also looking for diverse new members.

“The FPC is an inclusive organization that enables underrepresented voices to have a seat at the table as the industry works to scale the adoption of faster payments,” said Mark Keeling, chief operating officer of The Bankers Bank and a founding member of the FPC. “I’m excited for the opportunities this creates for community banks in particular, and I encourage them to get in on the ground floor by enrolling now to become a member of the FPC.”



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.