ATLANTA--(BUSINESS WIRE--Sionic, a leading provider of omni-commerce, consumer-to-business payments solutions, today announced that the company’s CEO, Ronald Herman, has been appointed to the U.S. Faster Payments Council (FPC) Board Advisory Group. The FPC is a membership organization devoted to advancing safe, easy-to-use, faster payments in the United States. In this role, Herman will help advise the FPC’s board of directors and staff on how to best capitalize on and respond to emerging trends in the payments ecosystem.
“We are thrilled to welcome Ron to this year’s Board Advisory Group,” said Reed Luhtanen, executive director of the FPC. “The Board Advisory Group is comprised of a dynamic group of industry professionals, the best of the best in terms of payments professionals and as a collective, they play an important role in driving the conversations about faster payments. We have a shared goal to advance the ubiquity and usability of faster payments, and Ron’s unique perspective and proven domain expertise will be vital in helping us achieve this mission. We value the Advisory Group’s contributions and thoughtful examination of the faster payments landscape to further amplify the FPC’s vision.”
Herman has more than 25 years of executive technology leadership experience and is recognized as an industry leader in the payments industry. More than a decade ago, before mobile payments were readily accepted or mainstream, he founded Sionic to pioneer the future of mobile payments technology. In 2022, the company launched the industry’s first Pay-by-Bank service at the point-of-sale, bringing real-time payments to commerce in the U.S. market. Most recently, the company unveiled a suite of trust-based services, Verified Rapid Payments TM, to address the significant challenges facing faster payments in the U.S. whether on The RTP® Network or upcoming FedNow™ bank rails.
“It’s an honor to be appointed to work alongside such a talented group of payments leaders,” said Ronald Herman, CEO of Sionic. “I have been a long-time advocate for transforming the industry’s payment infrastructure and look forward to supporting the FPC in its mission to advance faster payments. This is an exciting time for real-time payments and payment security in the U.S. and this team will have an instrumental role in further advancing the adoption of instant payments by both consumers and businesses. Like Sionic, the FPC is continuously striving to mobilize the evolution of faster payments.”
Representing a broad range of payments industry professionals to ensure diversity of background, experience, and perspective, the 2022-2023 FPC Board Advisory Group is a standing body authorized by the FPC Board of Directors. Assisting the FPC in capitalizing on and responding to trends in the faster payments market, the Board Advisory Group offers insights on topics including new work group formations, diversity and inclusion, components of a payments ecosystem, barriers to adoption, and successful faster payments use cases. Herman is attending the FPC 2023 Spring Member Meeting, March 20-21, 2023, in Kansas City to discuss some of the most pressing issues surrounding faster payments, participate in panel discussions and roundtables with industry experts, as well as network and collaborate with other industry influencers and professionals.
Additionally, Sionic’s Vice President of Strategy and Product, Erica Burris, has joined the FedNowTM Request for Pay (RFP) Work Group: Customer Experience. She will work alongside other payment industry leaders to define a consistent end-customer experience for Request for Pay (RFP) solutions and help steer the future of payments.
Atlanta-based Sionic is leading The Great Reallocation in digital payments by delivering instant bank-to-bank transfers from consumers to merchants, business to business, and business to consumers. A Google Cloud service, Sionic's market first ULink® is bringing real-time direct deposits to the point of sale via mobile, online, in-store, or in-vehicle experiences. The company has partnered with top financial institution owners of The RTP® Network for bank payments and CyberSource, a Visa solution, for secure card payment processing. Merchants accepting real-time payments bypass expensive card swipe fees and receive POS cash deposits immediately. Consumers may receive perks for paying with their bank accounts.
About Faster Payments Council
The FPC is an industry-led membership organization whose vision is a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country. For more information, please visit www.fasterpaymentscouncil.org.
For U.S. Faster Payments Council