U.S. Faster Payments Council Report Examines How Digital Inclusion Drives Financial Inclusion

WHY THIS MATTERS

The publication of the new report by the U.S. Faster Payments Council addresses an overlooked operational vulnerability within modern real-time financial services: the technical barriers blocking marginalized populations from accessing instant money. The rapid rollout of the Federal Reserve’s FedNow Service alongside The Clearing House’s RTP network has successfully upgraded the technical speed of American banking rails. However, the system’s underlying value remains entirely inaccessible to millions of unbanked and underbanked individuals who suffer from poor broadband connectivity, lack capable smartphones, or have low digital literacy. This digital divide becomes particularly dangerous during natural disasters or economic emergencies, where low-income households and rural families are cut off from receiving emergency government stipends or instant payroll deposits due to technical friction. By framing reliable internet access and user-centered app design as essential infrastructure prerequisites, the report provides financial institutions with a clear strategy to prevent technical advancements from further deepening domestic economic inequalities.

The U.S. Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today announced the publication of Insights for Bridging the Digital Divide and Enhancing the User Experience, a new report by the FPC Financial Inclusion Work Group (FIWG). The report examines how access to technology influences participation in financial services and provides recommendations for advancing financial inclusion through improved digital connectivity, education, infrastructure, and user-centered design.

Developed by the FIWG’s Access to Technology Subgroup, the report draws on interviews with banks, credit unions, financial technology providers, and government organizations to better understand how digital access, digital literacy, and user experience affect consumers’ ability to engage with financial services and faster payment solutions.

The report highlights that access to technology extends beyond device ownership and encompasses broadband availability, affordability, usability, trust, and resilience. It also explores how gaps in digital access can disproportionately affect seniors, rural communities, low-income households, and other underserved populations, particularly during emergencies when access to financial resources is critical.

“One of the clearest findings from this report is that financial inclusion cannot be achieved without digital inclusion,” said Craig Ramsey, Head of A2A Payments at ACI Worldwide and Lead of the FIWG Access to Technology Subgroup. “Access to faster payments, reliable connectivity, and intuitive user experiences is no longer a ‘nice to have,’ it’s foundational to participation in the modern economy. When people can receive funds instantly, securely, and with confidence, it strengthens resilience for individuals, communities, and businesses alike. Inclusive payment systems don’t just support those who are underserved today; they create broader economic stability, drive innovation, and deliver benefits that ripple across society as a whole.”

Among its findings, the report identifies digital infrastructure as a foundational requirement for financial inclusion and emphasizes that access alone does not guarantee adoption. The report notes that education, digital literacy, and intuitive user experiences are equally important to helping consumers confidently use digital financial services. It also highlights the need for continued support of hybrid service models that combine digital and in-person access to meet consumers where they are.

“Access to financial services now depends on access to technology — you can’t deliver one without the other,” said Anthony Serio, Co-Founder and COO of 7T World and Chair of the FPC Financial Inclusion Work Group. “Our research shows that infrastructure, education, and user-centered design must work together to bring more people into the digital economy, a goal no single industry or community can reach alone.”

The report outlines several recommendations to help advance financial inclusion, including expanding digital infrastructure, investing in digital literacy and fraud awareness programs, maintaining physical access points and hybrid service models, strengthening community partnerships, and improving accessibility through localized and multilingual support.

“Faster payments can play an important role in expanding access to financial services, but access depends on more than the availability of payment technology,” said Reed Luhtanen, FPC Executive Director and CEO. “This report highlights the critical connection between digital inclusion and financial inclusion and provides actionable recommendations for industry stakeholders seeking to reduce barriers and ensure more Americans can participate fully in today’s digital economy.”

FF NEWS TAKE

The Faster Payments Council Financial Inclusion Work Group highlights that mere device ownership does not guarantee consumer adoption of digital banking tools, as fragmented API integrations and complex login redirects regularly alienate vulnerable users. Led by ACI Worldwide real-time payment executive Craig Ramsey and 7T World co-founder Anthony Serio, the group’s research emphasizes a growing trust and usability gap between agile fintech interfaces and traditional community credit union apps. To resolve this structural fragmentation, the council is urging industry providers to build unified, multilingual application layers backed by secure, portable digital identities that simplify the user experience without sacrificing fraud prevention. Simultaneously, the organization advises commercial banks against entirely abandoning physical infrastructure. By recommending hybrid operating models that pair digital real-time balances with local civic partnerships and brick-and-mortar cash access points, the council outlines a comprehensive framework designed to securely onboard underrepresented American communities into the automated, high-velocity digital economy.