US Faster Payments Council Completes Elections For Board Of Directors

The U.S. Faster Payments Council (FPC) announced the results of its first member election for its board of directors, the organization said in a news release.

Among the newly designated individuals who will represent the FPC’s six membership segments are: Reed Luhtanen from Walmart Inc., Jane Larimer from Nacha, Matt Friend from Visa, Andrea Gilman from Mastercard and Kevin Christensen from SHAZAM, among many others.

“The new FPC Board represents the industry inclusiveness that is critical to the work of the organization,” said Kevin Christensen, acting FPC executive director and interim board chairman. “Our job is to convene industry stakeholders to chart a path to ubiquitous faster payments, and these newly elected leaders will be instrumental in achieving that vision. The level of FPC member commitment is unparalleled, and with this passion comes action: We will achieve universal faster payments.”

The organization gave an overview of its election policies in the release.

The board “is comprised of up to 21 voting members representing the voting membership segments, and each voting segment is allocated three seats; seat allocations that are not filled are left vacant,” it said. “In addition, three at-large seats exist for the three voting segments with the largest number of members, but no membership segment may have more than four seats. Within each segment, the composition of the directors reflects the diversity of their segments.”

The members will have staggered-length terms, determined by number of votes, with the longest terms given to those with the most member support.

“In this inaugural election, FPC members voted in a Board that benefits both from continuity and fresh perspectives: 65 percent of this new leadership draws on the experiences of the interim Board, while the other 35 percent represent new FPC directors,” the FPC said.

The board officer positions were recommended by the nominating committee and will be confirmed at the first board meeting on May 30.

“As we assemble this new group of industry leaders, we’d like to extend a special thank you to the interim Board,” Christensen said. “Without the tireless efforts of those individuals, we wouldn’t be where we are today: holding our first member meeting, unveiling new initiatives and spearheading progress toward ubiquitous faster payments. This group helped set the stage, and now, our newly elected Board will take us into the future.”