Complete Story
 

08/10/2021

Electronic Remittance Information:

Making the Move Toward Modernization

 

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The momentum of electronic invoicing (e-invoicing) is pushing business-to-business (B2B) payments into a new frontier. Yet, 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.

A recent article, “Electronic Remittance Information: Making the Move Toward Modernization” highlights how the option to send electronic remittance within or separate from a payment is essential for a modern B2B payments infrastructure. 

Interested in being part of this modernization? The BPC and the Federal Reserve are still accepting expressions of interest to join the Remittance Delivery Work Group. The work group will assess the E-invoice Exchange Framework architecture to understand if it is feasible for electronic delivery of remittance information. Experienced industry leaders are needed now to participate in this work group. If you would like to take part in this effort, please complete the expression of interest by Friday, August 13

Read more, continue to visit the Business Payments Coalition website and explore FedPaymentsImprovement.org for updates on B2B payments modernization.

Want to learn more?

Email us at business.payments.smb@mpls.frb.org with any questions.
Email:  business.payments.smb@mpls.frb.org

https://businesspaymentscoalition.org/

 

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