Faster Payments Council Taps Walmart Exec As New Executive Director


The U.S. Faster Payments Council (FPC), a membership organization dedicated to swift payments, has named industry veteran Reed Luhtanen as its executive director, according to an announcement on Wednesday (March 25).

Most recently with Walmart Inc. and an officer on the FPC Board, Luhtanen brings a wealth of industry knowledge and experience to the role, the group said.

He succeeds Kimberly Ford, the FPC’s first executive director. His first day in his new post will be April 13.

“We’re thrilled to have Reed leading the FPC as executive director and look forward to leveraging his industry knowledge, expertise, and vision for the organization,” said FPC Board Chairman Michael Bilski in a statement. “His unique experience at the intersection of payments-related public policy, financial services, corporate treasury, and nonprofit service will help take the FPC to new heights.”

Bilski praised Ford and said she did “a tremendous job in laying a strong foundation” for the FPC, raising the organization’s visibility and setting it on a successful path.

“Reed will build on that momentum, applying his leadership skills, deep roots in the payments industry, and fostering his existing relationships with our members and the board of directors,” Bilski added.

Luhtanen has substantial experience in the payments industry and has served on a number of industry bodies. He most recently was a member of the Federal Reserve Bank-sponsored Governance Framework Formation Team, which created the U.S. Faster Payments Council, and the Corporate Advisory Group for The Clearing House Real-Time Payments System, Bilski said.

Prior to joining the FPC, Luhtanen was with Walmart for 15 years, most recently as senior director of global treasury. In that capacity, he was responsible for the company’s public policy relating to payments along with public relations initiatives, network and processor relationships and establishing Walmart’s payments acceptance strategies.

Luhtanen was recognized in 2015 as one of Paybefore’s “Top Ten Payments Lawyers” and was honored in 2019 as a member the Electronic Transactions Association’s “Forty Under 40” class. He holds a B.A. in political science from the University of Arkansas’ Fulbright College of Arts and Sciences and a law degree from the University of Arkansas School of Law.

The FPC aims to offer a payment system that enables users to make safe payments on demand, with near-immediate availability of funds.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.