Payments Exchange

The Coalition Expands its Mission

It has now been five years since the Remittance Coalition was formed and since its founding, the Coalition has experienced tremendous growth and evolution (and they’re not done yet!). As part of its anniversary, the Remittance Coalition will henceforth be known as the Business Payments Coalition. Along with its new name, the Business Payments Coalition has also broadened their mission statement beyond remittance to encompass overall payments efficiency.

“Since it was formed as the Remittance Coalition five years ago, the Business Payments Coalition has evolved into a nationally respected organization that champions B2B payments efficiency and security. It is a true model of industry collaboration, with hundreds of active and effective volunteers from a wide variety of organizations including businesses of all sizes and types, banks, standards development organizations, consultants, software and technology vendors, and many others. By creating and publishing standards and technical reports, identifying ‘best practice’ business processes and promoting their use, educating about payment and remittance standards, and advocating ways to overcome barriers to straight-through processing, the Coalition has made real progress in achieving its goal of improving the efficiency of B2B payments across the end-to-end process.”

Claudia Swendseid
Senior Vice President
Federal Reserve Bank of Minneapolis
Founding Member, Business Payments Coalition (formerly the Remittance Coalition)

You can expect to see more progress from the Business Payments Coalition as work groups drawn from over 550 Coalition members continue to work toward increasing the efficiency of B2B payments by all types and sizes of U.S. businesses.

Join the Business Payments Coalition

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

Want to Learn More?

Review the Frequently Asked Questions (FAQs) or send an email to business.payments.smb@mpls.frb.org.

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