Electronic / Mobile Payments Fraud , Payments

Faster Payments Initiative: What's Next?

Federal Reserve's Ed O'Neill Offers an Update, Reviews Security Issues
Ed O'Neill, assistant vice president of secure payments, Federal Reserve

Faster payments can help to make payments more secure, but they can also raise new security issues. How can those be mitigated? The Federal Reserve has two task forces tackling this and other important issues, and a new report will be released soon.

In a video interview at Information Security Media Group's recent Fraud and Breach Prevention Summit in Chicago, Ed O'Neill of the Federal Reserve discusses:

See Also: Webinar | Passwords: Here Today, Gone Tomorrow? Be Careful What You Wish For.

  • The security issues related to faster payments;
  • Why the Fed will not endorse specific technologies for faster payments;
  • An update on the activities of the two task forces - and the types of organizations involved;

O'Neill joined the Federal Reserve in January 2016 as assistant vice president of secure Payments. He is responsible for the design, development and implementation of key elements of the Federal Reserve's payment security strategy to reduce fraud risk and advance the safety, security and resiliency of the U.S. payment system. O'Neill also supports the Secure Payments Task Force in meeting its objectives and serves as the Federal Reserve's liaison for the task force's information sharing and data protection work groups.


About the Author

Tracy Kitten

Tracy Kitten

Director of Global Events Content and Executive Editor, BankInfoSecurity & CUInfoSecurity

A veteran journalist with more than 20 years' experience, Kitten has covered the financial sector for the last 13 years. Before joining Information Security Media Group in 2010, where she now serves as director of global events content and executive editor of BankInfoSecurity and CUInfoSecurity, she covered the financial self-service industry as the senior editor of ATMmarketplace, part of Networld Media. Kitten has been a regular speaker at domestic and international conferences, and was the keynote at ATMIA's U.S. and Canadian conferences in 2009. She has been quoted by CNN.com, ABC News, Bankrate.com and MSN Money.




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