The Federal Reserve is coordinating with the industry to propel business-to-business (B2B) payments toward modernized, electronic solutions. Learn more about the collaborative efforts to transform B2B payments in a new, three-part video series.
The Federal Reserve and the Business Payments Coalition (BPC) recently announced the E-invoice Exchange Market Pilot and Remittance Delivery Assessment Work Group, two industry efforts aimed at catalyzing the modernization of business-to-business (B2B) payments in the United States.
A key step in modernizing business-to-business (B2B) payments in the United States is establishing a standard way for businesses to send electronic invoices, payment and remittance information. Learn more about the ideal state of e-invoice and e-remittance information delivery and processing, and recent progress to test a virtual exchange framework.
The modernization of B2B payments would be incomplete if it did not advance efficiency across other dimensions, including the payment, remittance information and reconciliation. Now is the time to catalyze similar innovation with the exchange of payment remittance information.
The Federal Reserve recently hosted a webinar, “Modernizing B2B Payments: The Time for Digitalization is Now”. Read the recap and watch the recording to hear about the vision, benefits and opportunities for advancing innovation and modernization of B2B payments.
Learn about the benefits that digital B2B payments processes bring to businesses of all types, including lower costs, better cash management, error reduction, risk mitigation, increased transparency and improved automation of business processes.
The Federal Reserve is working with the industry to modernize B2B payments. Read about recent progress and initiatives currently underway to improve payments efficiency.
The Federal Reserve is committed to supporting the shift to electronic business to business (B2B) payments. Read more on the state of the industry, the benefits of successful adoption of digital processes, and how to get involved.
As the payments industry moves rapidly toward digitalization, the Federal Reserve is dedicated to helping businesses embrace B2B payments modernization.
The Accredited Standards Organization X9 is looking to catalyze ISO 20022 common data usage in the U.S. market through their ISO 20022 Market Practice Group.