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 represent 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.

83% of voters say their paycheck shouldn’t sit in limbo for days. The PACE Act would fix that. We support the bipartisan legislation and the policy reforms needed to promote competition, innovation, and U.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 could take milliseconds, not one-to-three business days.

Boost America’s Competitive Edge

While America currently trails every other G7 country in the use of digital payments, modernizing the payment systems will drive innovation, making America a competitive leader in the global financial market.

Lower Payment Costs

Modernizing the U.S. payment system will strengthen competition among financial institutions and remove unnecessary friction that raises costs, helping deliver more affordable options for consumers and small businesses.

Open Up the Payment Bottleneck

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

Get the Facts

The PACE Act: A Bipartisan Fix for an Outdated System

Representatives Young Kim (R-CA) and Sam Liccardo (D-CA) have introduced bipartisan legislation that would allow qualified, regulated payment companies to access the Federal Reserve’s payment network directly — cutting out the costly middleman and delivering faster, cheaper payments for American consumers and small businesses.

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