Payments Innovation

Contributing to a secure, reliable, and accessible U.S. payments system

A photo collage of abstract programming code overlaid over a picture of the ten dollar bill with Alexander Hamilton

Boston Fed and MIT release technological research on a framework for a Central Bank Digital Currency

The findings describe choices for a theoretical high-performance digital currency

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FraudClassifierSM Model: Better Fraud Data. Better Defense.

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FedNow Service to facilitate nationwide instant payment services by financial institutions

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What We Do

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Central Bank Digital Currencies

A team at the Boston Fed is focused on software engineering and financial infrastructure, researching the possibilities and limitations of a central bank digital currency.

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FedNow Service

The Federal Reserve is developing the FedNow Service to enable financial institutions of every size, and in every community across America, to provide safe and efficient instant payment services in near real-time, around-the-clock, every day.

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Secure Payments Innovation & Research

The Federal Reserve Bank of Boston is leading efforts on behalf of the Federal Reserve System to reduce fraud risk and advance the safety and security of the U.S. payment system.

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Services & Resources

Digital/Mobile Payments Innovation & Applied Research

Payment Strategies contributes to the development of innovative business and technology solutions for mobile and digital payments that are secure, efficient and ubiquitous by leading mobile/digital payment initiatives with the industry.

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Latest research and information on payment studies and innovations and their impact on central bank digital currencies, financial technology, and regulatory oversight.

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Publications & Data

Featured

Project Hamilton Phase 1 Executive Summary

Project Hamilton Phase 1 Executive Summary

by Federal Reserve Bank of Boston and Massachusetts Institute of Technology Digital Currency Initiative

Bank releases 2021 financials, summarizes year’s activities

2021

Annual Reports

Bank releases 2021 financials, summarizes year’s activities
De-Mystifying New Approaches to Safer Online and Mobile Payments

Payment Strategies

De-Mystifying New Approaches to Safer Online and Mobile Payments

by Susan M. Pandy and Marianne Crowe

Modernizing U.S. Financial Services with Open Banking and APIs

Payment Strategies

Modernizing U.S. Financial Services with Open Banking and APIs

by Susan M. Pandy

Coming Soon to the U.S.: A National Standard for Mobile Financial Services

Payment Strategies

Coming Soon to the U.S.: A National Standard for Mobile Financial Services

by Susan M. Pandy

2019 Results From the Mobile Banking and Payments Survey of New England Financial Institutions

Payment Strategies

2019 Results From the Mobile Banking and Payments Survey of New England Financial Institutions

by Marianne Crowe and Breffni McGuire

Mobile / Digital Payment Industry Trends in Distributed Ledger Technology, Cryptocurrency, Mobile P2P Payments, Fraud, and Authentication

Mobile Payments Industry Workgroup

Mobile / Digital Payment Industry Trends in Distributed Ledger Technology, Cryptocurrency, Mobile P2P Payments, Fraud, and Authentication

by Susan M. Pandy and Marianne Crowe

Financial Institutions across the U.S. Participate in the Mobile Landscape Transformation

Mobile Banking & Payment Surveys of Financial Institutions

Financial Institutions across the U.S. Participate in the Mobile Landscape Transformation

by Marianne Crowe, Breffni McGuire, and Elisa Tavilla

Regulatory and Payments Industry Stakeholder Perspectives: Fintech Innovation, Privacy, Open Banking, and Secure Payments

Mobile Payments Industry Workgroup

Regulatory and Payments Industry Stakeholder Perspectives: Fintech Innovation, Privacy, Open Banking, and Secure Payments

by Susan M. Pandy and Marianne Crowe

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Media Inquiries? Media Inquiries?

Our media relations team facilitates access to Boston Fed staff (economists, research, and bank leadership), and can assist in providing a variety of resources to journalists.

Media Relations