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Susan Herbst-Murphy

Consumer Credit & Payments Industry Expert

Phone: (215) 574-3456
Fax: (215) 574-7101
Send an e-mail to Susan Herbst-Murphy E-mail

Susan Herbst-Murphy joined the Payment Cards Center of the Federal Reserve Bank of Philadelphia in December 2007 after a career in commercial banking. She brings to the center an extensive background in product management, product development, consumer research, and strategic planning with banks engaged in both issuing and acquiring payment cards and with consumer and commercial debit, credit, and prepaid portfolios. She managed a business line that included a Visa top-20 check card portfolio, a top-30 small business debit portfolio, a top-10 commercial prepaid portfolio, a university one-card program, consumer gift cards, and ATM cards.

During her career, she has taken new card products from concept to commercialization, implemented instant issue functionality in branches, led the transition of credit card portfolio management from product-based to risk-based, and served on a Visa committee on the efficiency of health-care payments.

Since joining the center, Herbst-Murphy has expanded its research agenda to include commercial cards, small business credit, heterogeneity within the consumer payment card market, and public-sector payment card initiatives. She has presented her work at the NACHA annual payments conference; USAID Partners for Financial Stability Program; MasterCard Public Payment Forum; and NBPCA, Electronic Payments Network, and EFTA events.


  • Consumer behavior and preferences
  • Strategic planning
  • Demographics of payment card use
  • History of consumer credit and the card payment system

Payment Cards Center Publications:

View publications by the Payment Cards Center.

  • Last update: September 19, 2016