The U.S. Faster Payments Council (FPC) and the Accredited Standards Committee X9 have formed a collaboration to expedite the establishment and uptake of standards for faster payments.  

FPC, a membership-driven entity, aims to create a secure payment system for immediate transactions across the US. 

The X9 develops financial service standards, covering areas from mobile payments to blockchain technology, under the accreditation of the American National Standards Institute (ANSI). 

The partnership combines the industry-membership of the FPC with standards development expertise of X9 to enhance payments. 

These standards are anticipated to serve the needs of all participants, especially businesses in search of more streamlined payment methods. 

The collaboration builds upon the ongoing initiatives of the FPC’s Work Groups, which bring together varied industry perspectives to address critical challenges such as fraud prevention, international payments, and operational issues.  

Additionally, a Joint Standards Steering Committee is set to be formed to provide direction and oversee joint standards projects.  

The committee’s inception is planned for early 2026, with the selection process for committee members slated to commence in the first quarter of that year. 

FPC executive director and CEO Reed Luhtanen said: “This alliance with X9 ensures that end users will benefit from robust standards that not only improve compatibility and security but also help create a consistent experience across the industry.  

“Together, we’re creating the framework that will support greater trust and adoption of faster payments.” 

X9 executive director Steve Stevens stated: “By combining the FPC’s practitioner insight with X9’s consensus-driven standards, we’re embedding assurance into every faster payment, so that banks, processors, and corporations can move funds with speed and certainty.”