"The Faster Payments Task Force calls for the development of a faster payments governance framework, inclusive of all stakeholders, to make decisions to facilitate cross-solution payments and to achieve broad adoption; safety, integrity, and trust; and interoperability by 2020."

The MoMo entity could be Special Purpose National Bank Charter, which would have a joint custodial account in the Central Bank, to hold 100% of the reserves for all its prepaid transactional accountholder’s deposits. This entity would not make loans or investments.