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.


House Data Security Legislation Will Protect Consumers and Help Stop Breaches

May 1, 2015

FSR applauded the introduction of H.R. 2205, the Data Security Act of 2015, a bipartisan measure by Congressman Randy Neugebauer (R-TX) Congressman John Carney (D-DE) that will help prevent data breaches by enacting strong new protections for sensitive financial information and establish uniform guidelines to ensure customers receive timely notification when a breach happens.

CTO Corner: Identity Proofing and Authentication

May 1, 2015

This CTO Corner discusses current identity proofing and user authentication processes, reviews current weaknesses, identifies current efforts to strengthen them, and explores what else the financial services community could be doing. User identification and authentication are key components of any system that needs to restrict access to its data and resources, which includes many financial service applications, such as payments and on-line banking.

CTO Corner: Tokenization in Financial Services

March 9, 2015

Data breaches at merchants and rising concerns about payment fraud is driving greater interest in “tokenization.” Tokenization also addresses other long-standing concerns including the increasing proliferation and accessibility of customer credentials and sensitive information over the network. This CTO Corner discusses tokenization, including: what it is, how it works, who benefits, how it relates to other payment security solutions such as EMV and end–to-end encryption, and challenges surrounding its use and deployment.

FSR Comments on Same-Day ACH and Interbank Fees

February 26, 2015

FSR, along with other trades, supports NACHA’s efforts to move to same-day ACH, and strongly believes that an interbank fee and an ability to recover costs must be part of any final outcome.

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!