Federal Reserve Payments Study

The Federal Reserve Payments Study (FRPS) is an ongoing effort to quantify aggregate volumes, trends, and related information on the payments system in the United States. The study reports aggregate number and value of various noncash payments that have been made by U.S. consumers and businesses, including for-profit and not-for-profit enterprises and local, state, and federal governments. While the noncash payments system grows both larger and more complex and as stakeholders face more choices, the study provides a periodic benchmark of developments in the U.S. payments system to policymakers, the industry, and the public.

FRPS team members develop aggregate estimates from survey data collected from representative samples of depository institutions, and a census of payment networks, processors, and private-label issuers. The questionnaires request information on noncash payments, including checks, automated clearinghouse (ACH) transfers, debit card (including prepaid and non-prepaid) payments, credit card payments, as well as emerging and innovative payment initiation services and payment methods that provide alternatives to traditional payment methods. Recent surveys have also collected information on noncash payments fraud, cash withdrawals and deposits, and wire transfers.

The Federal Reserve Payments Study (FRPS) consists of a suite of surveys:

  • The Depository and Financial Institutions Payments Survey (DFIPS) collects the number and value of noncash payments, cash withdrawals and deposits, third-party payments fraud, and related information.
  • The Networks, Processors, and Issuers Payments Surveys (NPIPS) are a set of surveys that collect the number and value of electronic payments, payments fraud, and related information.
  • The Check Sample Survey (CSS) collects information on the characteristics of a random sample of individual checks to categorize them by counterparty and purpose.


Current Study (2017)

The Federal Reserve Payments Study: 2017 Annual Supplement


Since 2001, the Federal Reserve Payments Study (FRPS) has been conducted every three years. After the completion of the most recent FRPS in 2016, which reported on trends from 2012 to 2015, a smaller and more targeted annual supplementary data collection was launched to keep information current between the triennial studies. This brief provides some results from the 2017 annual update, such as new estimates of trends for selected core payment instruments from 2015 to 2016, as well as restated aggregate estimates and trends from 2012 to 2015.


For questions, comments or to be added to our mailing list, please contact frpaymentsstudy@frb.gov.

Previous Studies

The 2016 Federal Reserve Payments Study

Detailed Data Release
  • Recent Developments in Consumer and Business Payment Choices (HTMLPDF)
  • Detailed Data Tables (Excel)
  • Accessible version of Data Tables (PDF)
Initial Data Release
  • The Federal Reserve Payments Study 2016 (HTML | PDF)
  • Initial Data Table (Excel | CSV)
Survey Instruments

The following reports are not located on the Board's website. You will be re-directed when clicked.

The 2013 Federal Reserve Payments Study
Recent and Long-Term Payment Trends in the United States: 2000-2012

The 2010 Federal Reserve Payments Study
Noncash Payment Trends in the United States: 2006-2009

The 2007 Federal Reserve Payments Study
Noncash Payment Trends in the United States: 2003-2006

The 2004 Federal Reserve Payments Study
Analysis of Noncash Payments Trends in the United States: 2000-2003

The 2001 Federal Reserve Payments Study (Retail Payments Research Project)

Related Papers

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Last Update: January 25, 2018