Markets Wired

Today, Deputy Secretary Wally Adeyemo met virtually with CEOs from seven U.S.-based payment companies and representatives from the Payments Leadership Council (PLC) to discuss the important role electronic payments and financial inclusion play in our economic recovery.  Deputy Secretary Adeyemo reiterated how critical it is that businesses and government work together toward a swift and inclusive economic recovery. In particular, Adeyemo stressed that the recovery must address the economic inequalities that existed before, but have been exacerbated by, the pandemic. Additionally, Deputy Secretary Adeyemo applauded PLC members for working with the Treasury Department to distribute more than 130 million Economic Impact Payments as rapidly as possible, and for devising innovative ways to distribute payments to underbanked and unbanked individuals. The group also discussed how the American Jobs Plan and infrastructure investments, such as access to broadband, will help unlock economic potential.

Deputy Secretary Adeyemo was joined by the following:

• Al Kelly Jr., Chairman and Chief Executive Officer, Visa Inc.
• Stephen J Squeri, Chairman and Chief Executive Officer, American Express
• Roger Hochschild, Director, Chief Executive Officer, and President, Discover Financial Services
• Gary Norcross, Chairman and Chief Executive Officer, FIS
• Frank J. Bisignano, President and Chief Executive Officer, Fiserv
• Jeff Sloan, Chief Executive Officer, Global Payments
• Michael Miebach, Chief Executive Officer, Mastercard
• Raj Date, Founding Director, Payments Leadership Council

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