Business Payments Coalition

Who We Are

The Business Payments Coalition is a volunteer group of organizations and individuals working together to promote greater adoption of electronic business-to-business (B2B) payments and remittance data. The Coalition’s overarching goal is to make B2B payments more efficient across the end-to-end process, that is, to achieve straight-through-processing across both the procure-to-pay and order-to-cash cycles. The Coalition accomplishes this objective by addressing problems and barriers that make it difficult for businesses to use electronic alternatives to paper checks and remittance advices. There is no cost to join or to participate in Coalition efforts.

Remittance information refers to details about a payment. It tells what the payment is for and explains variances between the amount billed and amount paid. In B2B payments, often a remittance advice is sent by the buyer to the seller to inform the seller that a payment has been or is about to be made, the specific items or invoices being paid, and the reasons for any discrepancies between the invoiced amount and the paid amount (for example, discounts, deductions, and adjustments taken in accordance with the terms of the sale or contract).

Participation in the Coalition is open to any individual or organization interested in the Coalition’s objectives.

What We Do

The Business Payments Coalition promotes B2B payments education through regular conference calls, in-person meetings and webinars. It also sponsors and facilitates workgroups that develop educational, technical and standards material.

Upcoming Meetings and Webinars

  • Webinar: ISO 20022 for Wires and ACHs: Uncomplicated – November 7, 11:00 – 12:00 CT
    • What’s up next in the U.S. with ISO 20022 for wires and ACHs? Join John Morris from the Federal Reserve Bank of Atlanta for an engaging and enlightening session that explains the U.S. roadmap in an uncomplicated way.
    • Send an email to business.payments.smb@mpls.frb.org to register.
  • Vendor Forum call – November 16, 10:00 – 11:30 CT
    • In-depth topic: Robotic Process Automation and Artificial Intelligence

Current Workgroups and Initiatives

  • ISO® 20022 Education and Promotion Work Group
    The purpose of the ISO 20022 Education and Promotion work group is to collaborate with other industry groups to provide education about the ISO 20022 standard and encourage its adoption. It has published two educational and resource documents, Understanding ISO 20022 Resource Guide (PDF) and U.S. Adoption of ISO 20022 (PDF).
  • e-Invoicing Work Group
    The e-Invoicing work group’s objective is to identify ways to increase the adoption of business-to-business e-invoicing by all types and sizes of U.S. businesses. In October 2017 it published the Catalog of Electronic Invoice Technical Standards (PDF). In the fourth quarter of 2017 the workgroup will kick off a three year plan to identify, design and adopt an electronic invoice interoperability framework for the U.S. market.

Contact the Business Payments Coalition

Interested in joining the Business Payments Coalition? Register now! You will receive a welcome packet, be added to the Coalition distribution list, and be invited to participate in specific Coalition initiatives that may interest you.

Have a question about the Coalition? Want to volunteer on a project? Send an email to business.payments.smb@mpls.frb.org.

Business Payments Coalition Overview