The Federal Reserve will work with industry stakeholders to develop technologies and rules that foster greater ubiquity and interoperability among payment directories for person-to-person (P2P), person-to-business (P2B) and small business-to-business (B2B) payments. This effort supports the desire to achieve ubiquitous credit-push payments that can be made on new or legacy electronic payment platforms.
The Federal Reserve collaborates with stakeholders to develop and implement a directory to support B2B electronic payments, develop and promote simplified, common guidelines to make it easier to implement and use B2B standards for electronic payments and related information and explore the possibility of developing and implementing a standard, ubiquitous B2B electronic invoice and processing platform similar to ones that have been developed in other countries.
All of these efforts to work with stakeholders to address barriers to electronic payment adoption by businesses, leveraged work completed by the Business Payments Coalition.
B2B Directory Project
- B2B Directory Concept Paper (2014, PDF)
- Deduction Code Project – Core Adjustment Reason Code Technical Report (2013, PDF)
- Glossary Project – Remittance Glossary (2014, PDF)
- Remittance Standards Inventory Project – Remittance Standards Inventory (2013, PDF)
- Understanding Trends in the Provision of Remittance Standards (2015, PDF)
- The Experience of Food Distributors in Utilizing and Updating Remittance Formats: A Market Segmentation Analysis (2015, PDF)
Learn more about the Business Payments Coalition and how to engage on efforts.