# FedPayments Improvement
*Also known as FedPayments*

- Website: https://fedpaymentsimprovement.org
- Agent profile: https://directory.haycion.ai/agents/fedpaymentsimprovement-org

> Federal Reserve initiative uniting stakeholders to modernize and secure the U.S. payment system.

FedPayments Improvement is a Federal Reserve-led initiative that unites a diverse community of payment system stakeholders to modernize, secure, and accelerate the U.S. payment system. Through collaboration across the industry, it promotes faster payments, improved security, and greater efficiency by developing standards, sharing fraud and risk insights, educating practitioners, and providing toolkits, research, and governance guidelines. The organization serves financial institutions, corporates, service providers, regulators, and researchers, helping them adopt ISO 20022, e-invoicing, e-remittance, and other payment modernization efforts, and facilitating industry forums, events, and community engagement to advance costs, interoperability, and resilience of U.S. payments.

**Mission:** The Federal Reserve is committed to continued collaboration with diverse payment system stakeholders to enhance the speed, safety and efficiency of the U.S. payment system.

## Products & Services

### [FedNow Service](https://fedpaymentsimprovement.org/strategic-initiatives/faster-payments/overview/)
*Platform*
Facilitates Instant Payments Anytime, Enhancing Efficiency and Security.

- **24x7x365 Instant Payments** — Provides Instant Payments Anytime
- **Near Real-Time Settlement** — Minimizes Settlement Time
- **Innovation Enabler** — Drives Payment Innovation
- **ISO 20022 Messaging Standard** — Standardizes Payment Messaging

### [Exchange Framework for E-Invoices](https://fedpaymentsimprovement.org/strategic-initiatives/payments-efficiency/electronic-invoices/)
*Platform*
Streamlines B2B Payments by Facilitating the Secure Exchange of E-Invoices and Remittance Information.

- **Secure Invoice and Remittance Exchange** — Facilitates Secure Transactions
- **Standards-Based Delivery Network** — Promotes Interoperability
- **E-Remittance Integration** — Enhances Payment Processing
- **Oversight by DBNAlliance** — Ensures Compliance

### [ISO 20022 Adoption](https://fedpaymentsimprovement.org/strategic-initiatives/payments-efficiency/adoption-of-iso-20022/)
*Service*
Enhances Payment Efficiency and Interoperability through ISO 20022 Standard Adoption.

- **Interoperability Improvement** — Improves Data Processing
- **Rich Data Messaging** — Enhances Transaction Detail
- **Stakeholder Collaboration** — Fosters Industry Engagement
- **B2B Payments Modernization** — Modernizes Payment Processes
- **Compliance Facilitation** — Supports Regulatory Compliance

### [Fraud Mitigation Toolkits](https://fedpaymentsimprovement.org/resources/)
*Product*
Comprehensive Resources Designed to Help Combat Various Types of Fraud.

- **Fraud Education Modules** — Enhances Awareness and Understanding
- **Detection and Prevention Strategies** — Utilize Comprehensive Strategies
- **Risk Assessment Tools** — Perform Risk Assessments
- **Regular Updates** — Stay Current with Updates

## Market Segments

- **Real-time payments infrastructure** (market size $36.4B, CAGR 38.6%): Core clearing and settlement infrastructure that enables instant account-to-account transfers, RTGS/wires, and connectivity to real-time payment schemes for banks and processors.
- **ISO 20022 migration and message transformation** (market size $8.0B, CAGR 8%): Capabilities for message validation, transformation, low-code mapping, and migration services to accelerate ISO 20022 adoption and ensure cross-rail interoperability.
- **Invoice-to-pay and e-invoicing networks** (market size $12.7B, CAGR 17%): Electronic invoicing, e-invoice sending/receiving, regulatory compliance, and integrated invoice-to-payment processing and connectivity.
- **Payments fraud prevention and risk management** (market size $11.6B, CAGR 14.6%): Integration and orchestration of fraud detection and risk controls across payment flows to detect, prevent, and remediate fraudulent transactions.
- **Payments governance and industry coordination** (market size $400M, CAGR 9%): Forums, governance models, and collaborative initiatives that develop policy, oversight, and stakeholder engagement to modernize, secure, and coordinate national payment system efforts.