Today the Accredited Standards Committee X9 Inc. (X9) announced that it has launched a U. S. Payments Study Group to serve as a resource for the financial services industry to understand and track the wide range of payment methods used in the United States. An X9 study group will investigate a topic area and make recommendations; it may also create deliverables such as white papers or research reports.

The new group will focus on research, education and knowledge-sharing, with its primary deliverable being an X9 Handbook of U. S. Payment Types and Uses, which will be updated periodically to reflect developments in the payments landscape. The handbook will be available to the public. Involvement in the study group is open to industry participants whether or not they are associated with X9 member organizations. Those interested may sign up on the X9 website.

The study group will research, compile, maintain and regularly update the comprehensive handbook of U.S. payments, covering traditional, emerging and alternative payment methods. Group members will research and document the characteristics, operational models, regulatory frameworks, risks and adoption trends of major payment systems and instruments. Areas explored will include checks, credit cards, ACH, wires, P2P, cryptocurrency, ISO 20022-based systems and related ISO standards, QR payments, tokenization, digital currencies and other relevant mechanisms.

The group will also deliver ongoing analysis of innovations in payments and evolving practices, ensuring that the handbook remains current and relevant over time. It will identify and report on potential gaps or industry needs where X9 could consider the development of standards, recommended practices or guidance.

"While many efforts operate within X9, this is the first group to survey the full landscape of payment types in the United States or evaluate potential new payment systems. Because X9’s mission centers on the movement of money, a comprehensive view of the increasingly complex and varied landscape of payments in the United States is important to X9 and indeed, the entire financial services industry," said Tom Brown, leader of the new study group, X9 member emeritus and retired Associate Director of the U.S. Treasury's Office of Financial Research.

About the Accredited Standards Committee X9 Inc.

The Accredited Standards Committee X9 Inc. is a non-profit organization accredited by the American National Standards Institute (ANSI) to develop and maintain national and through ISO international standards for the financial services industry. The subjects of X9's standards include: retail, mobile and business payments; corporate treasury functions; blockchain technology; processing of electronic legal orders issued to financial institutions; tracking of financial transactions and instruments; financial transaction messaging (ISO 8583 and 20022); quantum computing; AI, QR code secure payments; checks; cloud; data breach notification and more. In addition, X9 is the governing body for a family of X9 Financial PKI products issued by DigiCert.

X9 acts as the U.S. Technical Advisory Group (TAG) for ISO TC68 (Financial Services) and performs the secretariat functions for ISO TC68. Please visit our website (www.x9.org) for more information.

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"While many efforts operate within X9, this is the first group to survey the full landscape of payment types in the United States or evaluate potential new payment systems."