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Briefing
B2B Payments: A Gradual Shift from Checks to Electronic Payment Methods
Over the past decade, U.S. businesses have increasingly used electronic payment methods for business-to-business (B2B) payments and reduced their use of checks. Nevertheless, almost 90 percent of businesses still use checks for at least some of their B2B payments.
Briefing
B2B Payments: Business Processing and Challenges to Achieving Straight-Through Processing
Electronic business-to-business (B2B) payments have the potential to reduce the manual handling required for checks, helping businesses advance straight-through processing (STP). Although businesses face several challenges to adopting electronic payments, partial solutions have emerged that facilitate STP.
Briefing
B2B Payments: How Instant Payments May Facilitate Straight-Through Processing for Businesses
Compared with other payment methods, instant payments have unique or enhanced features, including “request for payment,” business directories, confirmation of payee, use of the international messaging standard, around-the-clock service availability, and instantaneous, irrevocable funds availability. When these features are more fully developed, instant payments may better facilitate straight-through processing for businesses than other electronic payment methods.