Payments innovations can offer unprecedented convenience, yet these innovations also risk excluding those with the lowest levels of economic resilience, who are less likely to have access to the digital financial system. The Federal Reserve Bank of Atlanta recently looked at solutions to help safeguard these cash-based consumers, especially those without access to a traditional bank account.

Read more about the opportunities and challenges of financial inclusion highlighted in a FedPayments Improvement blog post (Off-site), including the preservation of cash, a strategic transition to digital and the notion of a cashless future. The commitment to open dialogue and collaboration between the public and private sector will remain critical in ensuring equal access to the U.S. payment system.