Business Payments Coalition: E-invoice Exchange Market Pilot

The BPC (Business Payments Coalition), with support from the Federal Reserve, is launching an effort to build, test and bring to market a virtual exchange network that will enable businesses of all kinds to exchange electronic invoices with one another. Phase one of this effort, spanning from July to December 2021, will center on the development and testing of an onboarding toolkit and access points. Phase two, beginning in early 2022 and extending through that year’s end, will focus on implementing the pilot of the exchange framework, including the interim oversight and exchange of e-invoices within the virtual network. The desired outcome of the pilot is an operational business-to-business (B2B) invoice exchange framework for the U.S. market.

To achieve this, the BPC is establishing the E-invoice Exchange Market Pilot to:

• Develop and test an onboarding toolkit that allows businesses to implement an e-invoice exchange framework
• Pilot the e-invoice exchange
• Provide interim oversight of the e-invoice exchange during the market pilot

 
As such, interested stakeholders are needed to participate in a variety of activities that advance development, testing and oversight of the framework.

How to Express Interest

Participation in the market pilot will afford organizations the opportunity to build and shape direction for B2B payments modernization and be early adopters of the e-invoice exchange framework. To that end, the BPC is interested in ensuring balanced representation across key organization types and relevant subject matter expertise. Participants should have experience or expertise in one or more of the following areas:

• Developing and testing an onboarding toolkit for implementation of an e-invoice exchange
• Knowledge of standards and protocols that facilitate interoperability of an e-invoice exchange
• Knowledge of the BPC e-invoice exchange framework or 4-corner network model architecture
• Corporate billing (sellers) and receiving (buyers)

If your organization would like to take part in this effort, please complete the expression of interest form or contact business.payments.smb@mpls.frb.org. Time commitment for pilot participation will vary by role, with the expectation that the weekly time commitment will be approximately two hours.

Complete the Expression of Interest Form Now

Want to learn more?

Additional background on the BPC‘s proof of concept can be found on the BPC website. Email your questions to  business.payments.smb@mpls.frb.org.