Payments, Standards, and Outreach Group (PSOG)
PSOG Mission Statement
The PSOG advances the Federal Reserve System’s mission in payments by providing expertise in business-to-business (B2B) payment transactions, payment standards, payment fraud and emerging payments.
PSOG’s Foundational Responsibilities
- Payments research, notably business-to-business payments and efficiency, fraud, and more recently virtual currency/blockchain technology;
- Payments standards monitoring, development, and adoption
- Engagement with relevant external associations and groups.
2017 Payments Fraud Mitigation Survey
The Payments, Standards, and Outreach Group at the Federal Reserve Bank of Minneapolis is conducting a payments fraud mitigation survey to help financial institutions better understand new or continuing challenges with payments fraud, as well as the methods used to reduce fraud risk and their effectiveness. In June, we distributed a survey invitation to financial institutions randomly selected from across the U.S.
If your financial institution received an invitation to respond to the survey, thank you in advance for participating in this important research effort.
A summary of the survey results will be posted to this page later this year.
Recent reports and information by the Payments, Standards, and Outreach Group at the Minneapolis Fed
- Industry & Government Information-Sharing Resources Related to Payments Fraud [pdf], December 2016
- Payments Fraud Liability Matrix [pdf], April 2016
- 2014 Payments Fraud Survey Summary of Regional Results [pdf]
- 2014 Payments Fraud Survey Summary of Consolidated Results [pdf]
- 2014 Payments Fraud Questionnaire [pdf]
- 2012 Payments Fraud Survey Summary of Results - Ninth Federal Reserve District Summary [pdf]
- 2012 Payments Fraud Survey Consolidated Results [pdf]
- 2010 Payments Fraud Survey Summary of Results [pdf]
- 2010 Payments Fraud Survey Presentation of Results [pdf]
- 2009 Payments Fraud Survey Summary of Results [pdf]
The Business Payments Coalition (formerly the Remittance Coalition)
The Business Payments Coalition is a group of organizations and individuals working together to promote greater use of electronic business-to-business (B2B) payments and electronic remittance data exchanges. Its wide-ranging goal is to improve the efficiency of B2B payments across the end-to-end process. The Coalition accomplishes this by addressing various problems and barriers that make it difficult for businesses to use electronic alternatives to paper checks and remittance advices.
Learn more and find all documents related to the coalition on The Business Payments Coalition web page (off site to fedpaymentsimprovement.org).