Business-to-Business (B2B) payments are one of the few remaining areas of payments that remain substantially unchanged, still reliant on paper and faxed documentation. Despite continual efforts in the past decade on the part of banks, regulators and associations like SWIFT, NACHA, The Clearinghouse, and the major card networks, there has been no breakthrough. Instead, we have seen incremental advances from all sides, which have been held back by a lack of interoperability and coordination.
In this presentation, we revisit the concept of running a third-party exchange for invoice and remittance data separate from the actual payment and settlement systems, and place it in the context of the variety of solutions that are now available. We argue that such networks can be the connective tissue between all of the other B2B payment systems, creating the critical mass of buyers and sellers required for mass adoption. All parties involved in the sale and provision of B2B payment services should consider partnering with one or more of the companies profiled in this presentation to expand their reach and make their services more attractive to corporations.