Payments Studies Group


Payments Studies Group

We pursue meaningful analysis and provide insights into emerging payment technologies, specifically in the consumer to business payments space and how they affect the industry and the future, by developing and sharing payments acumen to influence policy and publish meaningful payments research.

The Payments Studies Group will help the leadership of the Payments Services function and the senior management of the Federal Reserve Bank of Richmond to gain a better understanding of the evolution of payments and what those changes mean for the Fed's payments policy. The group will develop new methods of gathering information related to payments trends from both corporations and financial institutions. It will also collaborate with other areas of the Richmond Fed — including Research, and Supervision, Regulation and Credit — as well as with peers throughout the Federal Reserve System doing similar work.


We grow, strengthen and promote continuous payments research and understanding within the District and the System, as well as exhibit leadership, influence and expertise to all internal and external stakeholders.


  • Create and Sustain Partnerships: Bring together payment system stakeholders to broaden knowledge, foster dialogue and innovation.
  • Educate and Inform through Research: Conduct, share and publish payments research and studies.
  • Influence Payments Policy: Leverage our expertise to shape payments strategy around changes in regulatory framework, its impacts and risks.
  • Utilize Business Intelligence: Harness technology to gather, store and analyze consolidated data to answer key questions, draw conclusions and facilitate better decision making.
  • Leverage Process Improvement Methodology: Leverage a business process framework to increase efficiencies across Payments’ by continually optimizing and embedding methodology into processes and strategies.
  • Engage People and Resources: Recruit, develop and retain talented people and seek leadership opportunities to educate stakeholders.


  • 5th District Footprint, April 2013
    This issue of 5th District Footprint provides a spatial analysis of data relevant to community development in the Fifth District. The publication is available online quarterly.
  • 2012 Payments Fraud Survey, Summary of Results
    Report on survey of fraud experienced by Fifth District businesses and financial institutions.
  • Will That Be Cash or Cell?
    Feature on expanding use of mobile payments and how the Fed is studying this changing environment.
  • Coin and Currency in the Casino Industry
    Report on how changes in the gaming industry have changed people’s use of coin and currency in U.S. casinos.
  • The Role of Interchange Fees on Debit and Credit Card Transactions in the Payments System
    When consumers use debit or credit cards to make purchases, merchants are assessed fees for processing the transactions, the largest of which is called an "interchange" fee. Rising interchange fees, along with the growing dominance of card transactions in the payments system, have brought increasing scrutiny from regulators on the appropriate level of interchange fees and the competitive aspects of card networks. This Economic Brief looks at the trends, mechanics, and economic role of interchange fees and finds that the issue may be more complicated than it initially appears.
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