Susan Herbst-Murphy is the Consumer Credit and Payments Industry Expert at the Federal Reserve Bank of Philadelphia’s Payments Cards Center.  She joined the PCC after a successful career conducting product development, product management, consumer research, strategic planning and business line management at commercial banks engaged in both the issuing and acquiring of consumer, commercial, and small business credit, debit, and prepaid cards.  She has also applied her expertise in market-driven service development to health care, commodity marketing and retail initiatives.  Since joining the Payment Cards 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.