Innovation is literally the Payments Innovation Alliance’s middle name. As members of Project Teams, Alliance members are asked to weigh in and provide guidance and thought leadership on issues and topics that influence existing and emerging payment trends, drive change, remove barriers, and support innovation. Alliance Project Teams create industry white papers, develop best practices initiatives, test proof of concepts - and ultimately shape the future of payments.
Learn more about the currently active Project Teams below.
The Mobile Wallet Project Team brings together the full ecosystem of mobile wallet players and serves as an industry forum for dialogue. The Project Team provides a venue for banks, businesses and technology providers to collaborate and address specific challenges and issues facing players in this space today.
Tokenization, while not a new concept in the payments space, is gaining attention and importance for its role as part of a comprehensive security strategy. The ACH Tokenization Project Team is tasked with helping to define a tokenization strategy for the U.S. ACH Network. The Alliance will provide recommendations to NACHA —The Electronic Payments Association® on next steps to support DDA tokenization and implications for securing all DDA data (e.g., data used through check, wire or other systems).
Account Validation enables corporates and financial institutions to validate account information received from a consumer or business, including the ability of that account to receive electronic payments. The task of the Project Team is to respond to the need for account validation by highlighting what is available today, while exploring future requirements as payments are migrating toward faster options such as Same Day ACH.
For more information about The Alliance’s active Project Teams, please contact us at 703-561-3970, or by email.