Research

As the payments industry continues to evolve, the Federal Reserve Banks periodically release research that relates to payment trends and Federal Reserve Financial Services.

2013 Research

2013 Federal Reserve Payments Study

The 2013 Federal Reserve Payments Study is the fifth of a series of triennial studies conducted by the Federal Reserve System to comprehensively estimate and study aggregate trends in noncash payments in the United States. This study reports the total number and value of all noncash payments estimated to have been made in 2012 by consumers and businesses, including for-profit and nonprofit enterprises, and federal, state, and local government agencies. These payments included those initiated from accounts domiciled in the United States and typically involved the use of debit, prepaid and credit cards, automated clearinghouse (ACH) or checks. The 2013 Study marks an expanded effort to survey and estimate additional activities related to payment volumes that may help to better understand payments system trends.

Read the announcement (PDF) of this important study or take a moment to review the findings from our research listed below:

Note: The 2013 Federal Reserve Payments Study Summary Report released on December 19, 2013, has been updated as of July 24, 2014, to reflect revised estimates.

2010 Research

2010 Federal Reserve Payments Study

The 2010 Federal Reserve Payments Study is the fourth of a series of triennial studies conducted by the Federal Reserve System to comprehensively estimate and study aggregate trends in noncash payments in the United States. This study estimates the total number and value of payments that were made in 2009 by check, debit card, credit card, automated clearinghouse (ACH), and prepaid card from accounts domiciled in the United States. The study also estimates the number and value of ATM withdrawals.

Read the announcements (PDF) of this important study or take a moment to review the findings from our research listed below:

Note: The 2010 Federal Reserve Payments Study Summary Report released on December 8, 2010, has been updated as of April 5, 2011, to reflect revised estimates.

2007 Research

2007 Federal Reserve Payments Study

The 2007 Federal Reserve Payments Study is part of an ongoing effort by the Federal Reserve System to measure and analyze trends in noncash payments in the United States. It consists of three individual studies: the Check Sample Study (2007 CS study), the Depository Institutions Payments Study (2007 DI study), and the Electronic Payments Study (2007 EP study).

Read the announcements (PDF) of this important study or take a moment to review the findings from our research listed below:

Note: The summary report references the DI and EP studies only.  Estimates in the DI study detailed report may differ from those in the summary report or EP study detailed report.  The differences are due to differences in the reference periods, methodologies, or, in some cases, minor revisions to preliminary estimates.

May 2008 Revision: Exhibit 4: Response Rate per Stratum, page 26, has been replaced.

2007 Federal Reserve Study Shows That More Than Two-Thirds of Noncash Payments Are Now Electronic

Read the announcement (PDF) of this important study or take a moment to review the summary findings from our Retail Payments Research listed below:

2007 Federal Reserve Payments Study - Summary Report (PDF)

2006 Research

Opportunities for Growth in Wire Payments

The Federal Reserve Banks and The Clearing House conducted a joint research study entitled "Business to Business Wire Transfer Payments: Customer Preferences and Opportunities for Financial Institutions". The study offers an in-depth view of the issues facing organizations that routinely make wire transfer payments and focuses on the motivations driving payment decisions as well as potential opportunities for achieving growth in wire payments.

For more information, please see the study findings (PDF)

2001 - 2004 Research

2004 Federal Reserve Studies Confirm Electronic Payments Exceed Check Payments for the First Time

Retail Services leads the way in the transition from the current paper-based U.S. retail payment system toward a predominantly electronic system.

Read the announcement of this important study (PDF) or take a moment to review the detailed findings from our Retail Payments Research listed below:

2002 Community Bank Study

The primary purpose of this study is to examine the business strategies that community banks are undertaking to remain viable in a changing banking environment, identify what community banks require from the payments mechanism to survive in this environment, and suggest how the Federal Reserve might contribute to meeting those needs.

For more information, please see the study findings (PDF).

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