Payments We have seen large technology firms become increasingly active in the payments markets. With their deep and vast user base, all digitally connected, these firms promise to offer faster and cheaper online payments systems to compete with current operators. Consumer needs are helping to drive this change as they have increased expectations around the speed of decision-making, electronic marketing and digitised distribution channels.
As we work to improve the understanding of disclosure information to consumers, the Federal Reserve also engages in outreach activities and conducts research to help us better understand consumer behavior and inform our judgment with regard to the best approaches to achieve consumer understanding.