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    Federal Reserve Bank of Boston

    News stories featuring Federal Reserve Bank of Boston:

    Boston Fed calls for clearer value proposition to encourage mobile payments

    March 28th, 2017

    The value proposition for using mobile payments must be clearly stated to customers in order to change their behaviour from using plastic cards to mobile phones, says the Federal Reserve Bank of Boston following the completion of a research project that tested four mobile wallet models including NFC and QR codes. “While security issues remain a major barrier to mass mobile payment adoption and are being addressed by the industry, general consumer adoption is the real hurdle,” the bank says.

    Boston Fed calls for more education to boost mobile payments

    March 14th, 2017

    The Federal Reserve Bank of Boston says awareness of mobile payments “continues to grow” but “more education for consumers and employees” is needed to achieve mass adoption of mobile and digital wallets. The bank’s call comes after it completed a research project, which saw members of its payment strategies group testing a range of services on iPhones and Android devices for in-store and remote purchases.

    Boston Fed explores tokenization in the US

    June 18th, 2015

    The Mobile Payments Industry Workgroup (MPIW) of the Federal Reserve Bank of Boston has published a white paper providing an overview of the current US payment tokenization landscape for mobile and digital commerce. “It discusses benefits, challenges, gaps and opportunities from the perspectives of the major industry stakeholder groups,” the Boston Fed says.

    Federal Reserve gives cautious backing to tokenization

    September 24th, 2014

    The US Federal Reserve’s Mobile Payments Industry Workgroup (MPIW) has given cautious backing to the potential of tokenization in mobile payments and formed a subgroup dedicated to exploring the impact of the technology in more… More

    Boston Fed reports on mobile payments

    August 26th, 2014

    The Federal Reserve Bank of Boston has published Update on the US Regulatory Landscape for Mobile Payments, a summary of the latest meeting of the Mobile Payments Industry Workgroup (MPIW). “The industry and regulators are still trying to come to a common understanding about the different mobile technology solutions and how they impact the payments system,” the report found.

    Federal Reserve reports on barriers to NFC adoption in the US

    November 27th, 2013

    The Federal Reserve Bank of Boston has published a summary of a June meeting of its Mobile Payments Industry Workgroup (MPIW) that sets out a number of reasons why NFC has not yet taken off in… More

    Atlanta Fed states mobile payments will be ‘safer than plastic cards’

    April 14th, 2011

    “The mobile phone will be a much more secure payment device than the plastic cards we use today.” That is the view of the assistant director of the Retail Payments Risk Forum, in a blog… More

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