30 Jan 2025 Dave Glaser and Skyler Nesheim of Dwolla on retail payments, pay by bank, and Severance
episode
Off the Rails from the U.S. Faster Payments Council - FPC
32 min
3 speakers
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What are the latest Faster Payments Council headlines and resources announced?
off the rails from the US Faster Payments Council.
I'm Reid Lutanen, Executive Director of the U.S. Faster Payments Council, and this is Off the Rails from the U.S. Faster Payments Council, sponsored by Open Payment Network. Today I'm talking with Dave Glazer and Skylar Nesham of Douala. Dave, Skylar, and I talk about retail use cases, pay-by-bank, and Dave and I make predictions about the second season of Severance. But first, the headlines. On January 13th, the FPC released Guideline 0.02, Operational Considerations for Instant Payments, Senside Primer. This latest guideline, developed by the FPC Operational Considerations Workgroup, sponsored by Endava, provides financial institutions with valuable insights and actionable steps for enabling instant payment sending capabilities on the FedNow service and RTP network.
The report highlights essential considerations for institutions expanding from receiving to sending instant payments, emphasizing areas such as operational readiness, user interface design, liquidity management, and fraud mitigation. Also, on January 28th, the FPC Education Awareness Workgroup, sponsored by The Clearinghouse, just published a new industry resource, an interactive Faster Payments FAQs repository. Check out both of those resources in the FPC's Knowledge Center at fasterpaymentscouncil.org. And registration is open for the FPC Spring Member Meeting April 23rd and 24th at the beautiful, recently remodeled Westin Bayview in San Diego. Seriously, I think we're maybe the first event in there following the remodel.
It's a beautiful property right in the heart of everything in San Diego. This event is such a great opportunity to hear from experts who are making things happen, talk about the issues that matter for advancing faster payments, and have fun with friends. We will have more information about the evening event, but you can rest assured it's going to be a great time. And if you're interested in sponsoring, please reach out to us. We have an amazing list of sponsors lined up already, and you'll want to be part of that when I start listing them constantly on this show for the next four months. Okay, that's enough of the headlines. Let's head to that conversation with Dave and Skylar.
All right. We're joined by Dave Glazer and Skyler Nesham of Douala. Thanks for joining us, guys.
Hey, Reid. Hey, Reid. Thanks for having us.
All right. Dave, I think the place to start with this conversation is kind of the big picture. And we talked before, and I kind of like to hear from you kind of how you see this moment in the broad context of payments. Where do you see where we are right now and how are things kind of like playing out?
Right, Reid. Things are always changing in the payments ecosystem. I've been in the space for almost 25 years this year, and this is one of the most exciting times for sure. We've seen so much happen in terms of automation and global payments, mostly in the card space over the last 25 years since the dawn of the internet. And now over the last, say, five to 10 years, we're seeing a major shift towards what's being called open banking and account to account payments across the world. What's super interesting to me from being in different global roles in the past is how some markets, countries, continents, are moving forward from the perspective of government regulation? Does government seek to try to maybe limit the amount of influence the card brands have around the world?
and to also promote the banking infrastructure that they have in their countries. And so the concept of open banking is really being led by regulation in a number of countries like across Europe and India and Brazil and many others. But on the other hand, in the US, we're seeing these trends more focused on innovation. What's fascinating is that the US actually has had the most longest running, if you will, open banking payment system. We call it the ACH system. It's been around for 40, 50, 60 years in different flavors. But it hasn't felt new and modern like these brand new systems that are being built today.
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Chapters
3 chaptersSpeakers
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