Under this compliance framework, NPPA can designate core capabilities that NPP participants must support within a specified period of time, with penalties for non-compliance. This is a welcome development. One important element of the roadmap is the development of a ‘mandated payments service’ to support recurring and ‘debit-like’ payments.
Current Economic Situation and Outlook Economic activity expanded at a robust 5 1/2 percent pace last year, reflecting progress on vaccinations and the reopening of the economy, fiscal and monetary policy support, and the healthy financial positions of households and businesses.