The US Faster Payments Council (FPC) and Accredited Standards Committee X9 Inc. (X9) have joined forces to expedite the advancement of faster payments standards.

FPC is an industry-driven organization dedicated to fostering a payment ecosystem where Americans can make secure, fast, and convenient payments anywhere, anytime with quick fund availability. X9, recognized by the American National Standards Institute (ANSI), focuses on developing and maintaining financial services standards through ISO.

Enhancing Payment Standards Collaboration

The partnership aims to create interoperable, secure, and broadly adopted faster payment standards that cater to various stakeholders. With FPC’s industry insights and X9’s expertise in financial service standards, the two groups will bring together diverse voices to address critical issues such as fraud prevention, international payments, and operational challenges.

The collaboration will include the formation of a Joint Standards Steering Committee to oversee shared standards initiatives, with elections for committee seats set to begin in early 2026.

Insights from the 2025 US Instant Payments Study

In 2025, the FPC released findings from a study on the adoption of instant payments, which surveyed key third-party enablers including payment processors and banks. The report highlighted that applications like earned wage access, wallet funding, marketplaces, gaming, and P2P transfers drive the growth of instant payments.

Respondents also anticipated significant deployment of real-time fraud prevention tools and improved user interfaces in the next 12 to 24 months. Key technologies seen as crucial for advancing instant payment adoption included QR codes, APIs, and direct bank transactions.