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Industry Perspective

Payments study reveals substantial changes in the composition of noncash payments

The U.S. payment system is one of the largest, most complex engines of commerce in the world. Every day, billions of transactions occur between buyers and sellers of goods and services. While cash continues to be used widely for these transactions and plays an important function as a store of value, card and Automated Clearing House noncash payments more than doubled since 2000. Based on The 2013 Federal Reserve Payments Study data, while the number of total noncash payments grew almost 69 percent since 2000, the composition of noncash payments also changed substantially. Find out more about the trends in noncash payments by number and type of transaction.
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Customer SupportCustomer Support
Sometimes less is more: Your feedback helps simplifly access to customized Fed contact information

We all live and work in a world that demands we remember enormous amounts of information. The more information that is available via today’s technological advancements, the more connected we are to what’s happening across the country and around the world. When we think about all the things we rely on to manage our day-to-day lives, it truly highlights that in many instances having to remember less … is really more. In this issue, we share two examples of how your feedback prompted efforts that make it quicker and easier for you to reach our support experts.
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Events and EducationEvents and Education
FEDucation is no risky business

A critical component to any financial institution’s risk management and fraud detection is education and training, which can help prevent financial losses and reputational harm in a payments environment that continues to evolve with new and more complex risk factors. Education and training alone, though, are not enough. It is essential that your financial institution also identify and leverage the right tools to support your staff in mitigating potential threats. One such tool, developed by the Federal Reserve Banks, is the FedTransaction Analyzer® Service. Learn how the service can help support your institution’s compliance and monitoring processes.

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FedFocus is your source for the latest Federal Reserve Bank Services news. Each issue keeps you informed about hot topics in the industry, as well as provides insight into the value of Federal Reserve Financial Services.