Payment Innovations after the financial crisis

The Federal Reserve Bank of Chicago recently hosted its tenth annual Payments Conference. This year’s theme was “Payment Innovations in the Wake of the Financial Crisis” and its focus was emerging trends within the payments industry and new regulation following the financial upheavals of the past two years.

The participants at this year’s Payments Conference discussed how evolving technology and emerging payment products both challenge and complement legacy payments while providing opportunities for nonbank firms to compete against and collaborate with traditional payment providers—like large financial institutions and card networks. Moreover, given the flurry of recent legislation affecting the payments industry, the conference also addressed the legislation’s policy implications.

Katy Jacob and Anna Lunn discuss the conference in the latest edition of the “Chicago Fed Letter” which you can download HERE.