Federal Reserve Payments Study

 

Since 2001, the Federal Reserve Payments Study (FRPS) has tracked the aggregate number and value of noncash payments made by U.S. consumers and businesses. Using data collected through surveys of key payment service providers, the FRPS estimates volumes of payments by general-purpose and private-label credit, debit, and prepaid cards, automated clearinghouse (ACH), and checks. Recent studies have also collected information on payments fraud, cash withdrawals and deposits, wire transfers, and emerging and alternative payment methods and systems.

Contact

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

Current Study

Changes in U.S. Payments Fraud from 2012 to 2016: Evidence from the Federal Reserve Payments Study

  • Full Report (includes figures and data tables) (PDF)
  • Data Tables (Excel)
  • Accessible Version of Data Tables (PDF)

The Federal Reserve Payments Study: 2017 Annual Supplement (published December 2017)

  • Full Report (includes figures and data tables) (HTML PDF)
  • Data Tables (Excel)
  • Accessible Version of Data Tables (PDF)

About the FRPS

The Federal Reserve Payments Study is an ongoing effort to quantify aggregate payment volumes, payments fraud, and related information in the United States, offering a periodic benchmark of developments in the U.S. payments system to policymakers, the industry, and the public. The study reports the aggregate number and value of noncash payments and payments fraud made by U.S. consumers and businesses, including for-profit and not-for-profit enterprises and local, state, and federal governments.

The FRPS has been conducted every three years since 2001. After the completion of the most recent triennial FRPS in 2016, a smaller and more targeted annual supplementary data collection was launched to keep information current between the triennial studies. The Federal Reserve Bank of Atlanta sponsors the study on behalf of the Federal Reserve System and partners with the Federal Reserve Board of Governors to conduct it.

FRPS team members develop aggregate estimates using data collected from nationally representative samples of depository institutions and a census of payment networks, processors, and private-label issuers. The triennial FRPS survey components include the following:

  • 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 from a nationally representative sample of commercial banks, savings institutions, and credit unions.
  • 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 from a census of major card networks, payment processors, and card issuers.
  • The Check Sample Survey (CSS) collects information on the characteristics of a random sample of individual checks to estimate the distribution of checks by counterparty and purpose.

The GCI Analytics office of McKinsey & Company have assisted with survey administration and data collection for recent studies.

Prior Studies

The 2016 Federal Reserve Payments Study

Detailed Data Release
  • Recent Developments in Consumer and Business Payment Choices (HTMLPDF)
  • 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)

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 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)

Survey Instruments

The Federal Reserve Payments Study: 2017 Annual Supplement

The 2016 Federal Reserve Payments Study

The 2013 Federal Reserve Payments Study

Earlier Federal Reserve Payments Studies

  • See the prior studies detailed reports, which include the survey instruments as attachments.

Related Papers

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Last Update: November 27, 2018