FSR advocates on behalf of members that provide and use payment products and services to promote fair competition, innovation and a vibrant payments industry.  Advocacy efforts focus on identifying trends, opportunities and challenges in a dynamic payments ecosystem, and addressing regulatory and compliance issues.


Retailers’ Public Shaming and the 2.3%

February 10, 2015

My son is almost five. He’s alarmingly good at making excuses, from being too full to finish dinner but starving for dessert, to explaining how he had nothing to do with Iron Man’s head detaching from his body. They’re not often logical, but they’re always creative.

Fed Payments Modernization Paper Elevates Security, Calls for Continued Collaboration

February 2, 2015

There were nearly 122.4 billion noncash payments in 2012, which were valued at $174.4 trillion, according to a study recently released by Federal Reserve. These numbers represent over 10x GDP in the same year. The U.S. payments system is at a critical juncture as the industry works toward re-orchestrating one of the largest, most complex payment systems in the global economy – no pressure!

Defying Logic

December 12, 2014

High school debaters learn about the art of rhetoric. They learn how to persuade people and how to avoid logical […]

All Industries Should Have Equal Data Security Standards

November 12, 2014

On November 6, 2014, a group of organizations representing elements of the retail industry wrote to you regarding recent breaches of consumer information. Their letter, unfortunately, is inaccurate and misleading, and recommends solutions that leave consumers vulnerable to enhanced risk of data breaches. The undersigned financial services organizations wish to set the record straight.

CTO Corner: e-Cash and Bitcoin and Future of Money

November 1, 2014

In May 2013, I wrote a CTO Corner about Bitcoin1 where I reviewed how it works as well as factors that are both driving and inhibiting its acceptance in the marketplace. This article updates my assessment based on events that have occurred during the 18 months.

Bitcoin is an electronic cash system using peer-to-peer networking, digital signatures and cryptographic proofing to enable irreversible payments between parties. Back in the 1990s, at the start of the commercialization of the Internet, there were many start-up companies offering different e-cash schemes and other innovative payment schemes, but only PayPal succeeded because it addressed the need for on-line payment options for Internet auctions, such as eBay.

I Got Hacked: What I’m Doing Next

October 29, 2014

This week I got hacked. I wouldn’t be writing this if it had been the first time but I’ve been an unlucky, serial victim of theft. So what am I doing next? I’m changing absolutely nothing.