Virtually all market-based transactions require payment in exchange for goods or services. For centuries we relied on paper-based payment mechanisms such as checks and other negotiable instruments. Credit and debit cards, together with electronic fund transfer systems, started a transition away from paper.

Now in the digital world, even consumer payment is more and more made electronically. Payment can be made by scanning a cellphone. Banking is done online. We are in the midst of a revolution that increases the speed and the security of the payment system. What will this system look like in 20 years?

Join members of the Philadelphia Federal Reserve as they respond to the question: "In 20 Years, How Will We Be Paying for Goods and Services in the US?"

Speakers from the Federal Reserve Bank of Philadelphia include economist Robert M. Hunt, vice president and director of the  Payment Cards Center; Arun K. Jain, senior vice president of Treasury and Financial Services: and Philip Keitel, industry specialist and an adjunct professor at Temple University, where he teaches payment systems.

For more information about the event, which will be held in Room 106, contact Prof. Hyland at




Thursday, April 18, 2013 - 4:00pm to 6:00pm