Overview

Recognizing the demand and need for a safe, ubiquitous, faster payments system, the Federal Reserve called for and chartered two task forces: the Faster Payments and a Secure Payments task force. Over the course of the next two years, more than 500 of the nation’s top payment experts, academics, consumer groups, policy makers, and organizations debated, compromised, and voted in hotels and on conference calls around the country.

In July 2017, the Faster Payments Task Force released a final report that not only demonstrated a unified industry, roadmap and recommendations for a more modern payment system, but also included the evaluations of 16 distinct faster payment proposal solutions.

Dwolla, with its real-time experience and API expertise, was a proud contributor to this unprecedented initiative.



Contributions

Get involved

The Faster Payments Task Force has accomplished its mission of submitting their report, but the work continues! Learn more about ongoing initiatives to improve payments and how you can contribute.

In the Press

About Dwolla

At Dwolla, we were excited to contribute to a once-in-a-lifetime initiative, furthering payments for everyone. The same payments and technology experts that helped lead the task force provide the same expertise to advance the Access API.

Learn more View other industry initiatives

Financial institutions play an important role in our network.

Dwolla, Inc. is an agent of Veridian Credit Union and Compass Bank and all funds associated with your account in our network are held in pooled accounts at Veridian Credit Union and Compass Bank. These funds are not eligible for individual insurance, including FDIC insurance and may not be eligible for share insurance by the National Credit Union Share Insurance Fund. Dwolla, Inc. is the operator of a software platform that communicates user instructions for funds transfers to Veridian Credit Union and Compass Bank.