Gaps in the Global Electronic Payments Systems

»Laura Walker, »The Federal Reserve

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Abstract

This presentation offers a comprehensive assessment of the gaps related to the efficienct, secure and transparent processing of payments on a global scale. Laura Walker, Payments System Standards Coordinator for the Federal Reserve, will:

- describe the major gaps in standards development initiatives and other industry collaborations that — if resolved — would result in more efficient, secure and accessible payments mechanisms,

- identify major activities relative to these gaps, and,

- introduce possible actions the industry could undertake to foster and promote the development and adoption of standards.

Designed to inspire collaborative industry-wide action, Ms. Walker's "Electronic Payments Systems Stack" provides a framework for examining the five major components of the electronic payments environment. Gaps, standards activities, current issues, and possible actions will be presented for each of the framework's layers.

Keywords

»Financial Services, »Standards, »Web Services, »XML.

The full paper was not available at the time the proceedings were created. Please check the conference web site, http://www.xmleurope.com, to find an updated version of this paper.

Biography

»Laura Walker

»The Federal Reserve

»Boston, MA

»USA

Email: laura.walker@bos.frb.org

Web: http://www.laurawalker.com; www.federalreserve.org

As Payment Systems Standards Coordinator for The Federal Reserve System, Laura Walker works with industry stakeholders to facilitate the adoption of standards that will lead to a fully interoperable global payments environment. With a strong commitment to trade facilitation and information interoperability, Ms. Walker is active X9, BITS, UN/CEFACT, OMG, the FSTC and many other industry groups and standards initiatives. Laura was a member of the W3C's advisory committee 1999-2001, and serves on the boards of several organizations, associations and industry events. From 1999-2001, Laura was the Executive Director of OASIS. Presently (through 2004) and from 1995 to 1997, she served on the OASIS Board of Directors. In 1998, she was named "Mobile Maven" in recognition of her contributions to mobile computing. A frequent speaker at industry events, Ms. Walker has been developing information accessibility and interoperability solutions for over 18 years.