In early 2018, WesPay recruited WesPay members who are industry leaders in emerging payments to participate in the Emerging Payments Task Force. The task force spent six months analyzing what credit unions and banks require to prepare for new payments technologies and to more fully understand the potential implications to their payments business.

WesPay’s Emerging Payments Task Force

The formation of the Emerging Payments Task Force is a key element to WesPay’s continued evolution as a faster payments association. WesPay’s new strategic plan recognizes the important role of faster settlement in payment solutions in the U.S. and globally. 

The first work effort of the task force was centered around Distributed Ledger/Blockchain. Subsequent work of the task force will be to demystify RegTech. The group will help define what this is and provide ideas to help financial institutions manage their regulatory compliance using technology. Check back here for more information around June.

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Emerging Payments Task Force Report on Blockchain

Blockchain and other emerging payments are not just some fly-by-night idea that will go away in a few months. These are innovations that will shape e-commerce and whole industries. How is your digital strategy coming along?

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