IACA announces the Global Payment Study Project (GPSP)- July 7, 2008

• Central Bank and other Important Consumer Payments Research
• GPSP Bibliography of articles on cash and payments September 2008

The International Association of Currency Affairs (IACA) announced that it has engaged Eugenie Foster LLC to undertake Phase 1 of a Global Payment Study Project (GPSP.) The GPSP will survey trends, developments, and important drivers in the use of cash in various areas of the world. IACA expects the survey to provide robust and useful data for all of the stakeholders in the cash distribution infrastructure, ranging from central banks, to suppliers, to financial institutions, to the cash-in-transit industry. "We believe that stakeholders in one area of the world can learn from the trends in cash payments in other countries," said Rick Haycock, Chairman of the Board of the International Association of Currency Affairs.

In Phase 1, Eugenie Foster will develop a request for proposals for an initial cash payments survey. IACA plans to use a consultative process in developing the scope of work for the survey, with participation by a Steering Committee composed of representatives of significant cash distribution infrastructure stakeholders. IACA expects to provide a status update on the GPSP at the Currency Conference in Prague in October this year.

Bio of Eugenie Elisabeth Foster

Early this year, Eugenie Foster retired as Cash Manager for the Board of Governors of the Federal Reserve System to set up her own consulting company Eugenie Foster LLC. She has recently accepted an engagement to manage Phase 1 of a Global Payment Study Project (GPSP) for the International Association of Currency Affairs.

With the FRB she had managed the Board’s Cash staff and advised on matters related to counterfeit deterrence, currency design, currency distribution, and oversight of the Federal Reserve Bank currency and coin operations. Before joining the Board in August 2001, Genie was the first Project Director for the Central Bank Counterfeit Deterrence Group. She established the framework for an international initiative for the development and deployment of technology to deter counterfeiting of currency using personal computers.

Genie had previously spent twelve years at the Bureau of Engraving and Printing, where she served in a number of positions. She was Project Director for New Currency Design and coordinated the development of Series 1996 Federal Reserve Notes. As Assistant Director, Genie led the Bureau’s planning, design and construction of the Western Currency Facility.

Genie holds a B.A. from St. Lawrence University in Canton, New York and a J.D. from Villanova University School of Law, Villanova, Pennsylvania.