WASHINGTON (11/9/15)--The Federal Reserve will conduct its sixth study into the current aggregate volume and composition of electronic and check payments in the Unites States.
The study has been conducted once every three years since the Fed started researching estimates and trend information about the evolution of the payments system.
“Over the 15-year life of the study, the survey instruments have been adapted and updated to keep pace with the dynamic change in the U.S. payments system," said Mary Kepler, senior vice president of the Federal Reserve Bank of Atlanta and the study's executive sponsor. "Not surprisingly, the 2016 study will incorporate a number of significant enhancements, including an expansion of fraud-related information and an increase in the number of depository and financial institutions sampled. These improvements will strengthen the value of the trend information and insights to be presented with the study's findings.”
The 2016 study consists of three complementary survey efforts commissioned to estimate the number, dollar value and composition of retail non-cash payments in the United States for calendar year 2015.
It will request full-year 2015 payments data for various payment types from respondents to two of the three survey components; the third component involves a random sampling of checks processed in 2015.
Results from all three survey components will be used to estimate current trends in the use of payment instruments by U.S. consumers and businesses.
More information on the study, as well as the five previous studies, can be found at the Federal Reserve Bank Services website.