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Utilization of Payment Networks for B2B Remittance Information: Industry Networks Lead the Way

Published by: TowerGroup

Published: Jul. 15, 2002 - 16 Pages


Table of Contents


  1. Introduction
  2. Background
  3. Business Objectives
  4. A Case in Point: The US Electronic Payment Networks
  5. New Payment Network Initiatives for Remittance Information

Abstract

With new technologies and the rise in business-to-business (B2B) e-commerce, businesses are increasingly looking for ways to carry more remittance information with the payment and to automate reconcilement through the clearing systems and over the Internet. Initiatives now underway by some major payment networks to enhance their value by expanding their capacity to carry remittance data are leading the industry and offering alternatives to member banks and their business customers.

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