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 has been conducted triennially since 2001, and has reported the 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 federal, state, and local government agencies. As the noncash payments system has grown larger and more complex and as stakeholders face more questions and 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.

Current Study (2016)

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

A brief and data release in December 2016 containing an early look at the use of core payment systems and some new information on types of general-purpose payment card fraud.

  • The Federal Reserve Payments Study 2016 (HTML | PDF)
  • Initial Data Table (Excel | CSV)

Background

The 2016 Federal Reserve Payments Study (FRPS) consists of a suite of surveys:

  • The 2016 Depository and Financial Institutions Payments Survey (DFIPS) collected the number and value of noncash payments, cash withdrawals and deposits, third-party payments fraud, and related information for calendar year 2015.
  • The eighteen different 2016 Networks, Processors, and Issuers Payments Surveys (NPIPS) collected the number and value of electronic payments, payments fraud, and related information for calendar year 2015.
  • The 2016 Check Sample Survey collected information on the characteristics of a random sample of individual checks to categorize them by counterparty and purpose for calendar year 2015.

Contact

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

Reports from Previous Studies

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
Noncash Payment 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: July 28, 2017