It’s Time for a Faster, More Competitive U.S. Payment System.

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It’s Time for a Faster, More Competitive U.S. Payment System.

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We’re proud to be joined by leading business and advocacy groups from across the country, all fighting for a more efficient payment system.

Our Coalition

About the Alliance

The Alliance for Secure and Accessible Payments (ASAP) promotes policy solutions that empower consumers and small businesses with more options to move money faster, securely, easily, and affordably.

Our core objective is to open up access to federal payment systems through a new payment charter. This will foster greater competition, drive innovation, and strengthen America’s financial leadership.

A Better System for Americans:

Increase Speed & Efficiency

In the current system, it can take days to move your money. Opening up the payment system to competition would mean money transfers would take milliseconds, not one-to-three business days.

Boost America’s Competitive Edge

While America currently trails behind the European Union, China and others in the use of digital payments, opening federal payment systems will drive innovation, making America a competitive leader in the global financial market.

Reduce Fees & Payment Costs

Opening federal payment systems will encourage competition among banks. This will give consumers and small businesses more choices, leading to fewer fees and lower payment costs.

Open Up the Payment Bottleneck

The majority of automated clearing house (ACH) Federal Reserve transactions come from only two banks. Opening access to federal payment systems will enable digital payment platforms to settle transactions securely, while reducing market concentration.

Get the Facts