According to Odaily Planet Daily, Federal Reserve Board Governor Christopher Waller stated that the Fed will more actively explore how to embrace innovative developments in the payment field. At the Federal Reserve's Payment Innovation Conference, Waller pointed out that he has asked staff to explore the concept of "payment accounts", saying that this will usher in a "new era" for the Fed's payment business.

According to reports, payment accounts can use Federal Reserve services on a limited basis and are subject to simplified review, but they do not bear interest, do not provide overdrafts or discount windows, and may have a balance limit. The Federal Reserve team is studying the feasibility of directly providing such accounts to businesses that rely on third-party banks. (Bloomberg)