24 Sept 2026 Podcast Peter Davey on Killing the Check
episode
Off the Rails from the U.S. Faster Payments Council - FPC
27 min
2 speakers
8 chapters
transcribed 7 hours ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the purpose of the FPC Awards and upcoming fall member meeting?
Off the rails from the US Faster Payments Council.
This is Off the Rails from the US Faster Payments Council, and I'm your host, Reed Lutanan, CEO of the FPC. Today I'm joined by Payments Jedi, Peter Davy of Payments Jedi Advisory. Peter and I take aim at everyone's least favorite, but still often our go-to payment option, the check. We talk about how to get rid of checks, hint, you catch more flies with honey, and some of Peter's favorite breweries from a recent road trip. But first, the headlines. In case you missed it, FPC has launched our annual awards. Head to fasterpaymentscouncil dot org to nominate individuals and organizations for awards, including the first recipient of the Michael A. Bilski Leadership Award and an award for the most innovative organization.
The awards will be presented at the FPC's fall member meeting. Speaking of which, registration for the fall member meeting is open. It will be in Kansas City November 4th through the 6th. Find that at fasterpaymentscouncil.org, of course. And as always, a huge thank you to our fall member meeting sponsors. First, our platinum sponsors, ACI Worldwide, North American Banking Company, and Visa Direct, and our gold sponsors, Aloya, BNY. DeNovo Treasury, EPE Resources, Epcor, Federal Reserve Financial Services, Fincom, FinSLY, Form 3, Identifi, MasterCard, Paymeto, Plaid, PTAP Advisory, Shazam, The Clearinghouse, Trustly, Validify, Westpay, Wisea, and 7T Glob World. 7T World. Sorry about that guys. 7T World.
It was so great catching up with merchants at MRC San Diego last week. I was joined by Matt Friend of JPE Morgan Chase, Dennis Odiwo of ACI Worldwide, and Robbie McDermott of CMSPI on stage to talk about pay by bank. And earlier this week, Angela Hendershot, FPC's SVP of operations, hosted a panel discussion at UMACA's Navigating Payments Conference in the Twin Cities. And next week, I'll be doing a couple panels on pay by bank and AI at the Merchant Advisory Group's Payments Conference in Nashville. Please reach out if you're going to be in the area. And FPC has a new deliverable for you, a comprehensive look at the US Faster Payments Landscape for Optimal Operation Report, delivered by the FPC Digital Assets Work Group, examines the growing range of payments options available in the United States and provides a detailed comparison of the FedNow service, RTP network, Visa Direct, MasterCard Send, SandbayCH, stablecoins, and tokenized deposits.
It explores how these options differ across settlement, finality, speed, transaction limits, fraud management, governance, liquidity, and other key characteristics. The report highlights the distinct functionality that different payment methods can offer. The FedNow service and RTP network provide domestic instant settlement, while Visa Direct and MasterCard Sense support card-based disbursements and broader reach. Same-day ACH remains an important option for high volume batch payments. At the same time, stablecoins and tokenized deposits are introducing programmable capabilities and new approaches to settlement. So check that report out at fasterpayments council dot org, click on Knowledge center or education and then uh resources and publications, you'll find it there.
And with that, let's get to the discussion with the payments Jedi, Peter Davy.
All right, we're joined by Peter Davey of Payments Jedi. Peter, thanks for coming back on the show.
Anytime Ray.
And and he literally means that because I texted him like maybe was it yesterday, maybe today? I can't remember. Anyway, Peter, thanks for hopping on at the last minute. Um, you know, I guess first off, I think give us a little context on what you've been up to lately, what you're you know, who you're working with, you know, what are the things that maybe your the your clients are struggling with or trying to solve and you know maybe what are some of the clear opportunities and things that you're helping them with.
Yeah, it it's interesting. I'm I'm working with a number of different uh clients today. I'm working with some in the stablecoin space.
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Chapters
8 chapters
1
What is the purpose of the FPC Awards and upcoming fall member meeting?
0:07–4:51
2
How does Peter Davey describe the current challenges of eliminating checks?
4:51–9:01
3
What are the key attributes that make checks easier to use than digital alternatives?
9:01–12:58
4
Why is a unified payment directory essential for removing checks?
12:58–17:04
5
How does the horse‑manure vs. automobile analogy illustrate payment evolution?
17:04–20:10
6
What role does standardization play in creating a check‑free payment ecosystem?
20:10–23:12
7
Which payment method (stablecoin, tokenized deposit, or instant payment) offers the most value and why?
23:12–25:35
8
What are the next steps and future goals for the US Faster Payments Council?
25:35–27:48
Speakers
2 identifiedMore from Off the Rails from the U.S. Faster Payments Council - FPC
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16 July 2026 Callum Godwin of CMSPI on faster payments for merchants
25 June 2026 Keith Briscoe of Merchant Risk Council