Wednesday 21st December, 2022
The Business Payments Coalition (BPC) and the Federal Reserve is piloting a standardised B2B electronic document exchange system in the United States.
The initiative seeks to establish a standardised e-invoice model and create an electronic document exchange network, similar to the PEPPOL system developed in Europe. The US network will facilitate electronic commerce by enabling the efficient exchange of documents and straight through processing for all sectors.
The BPC has announced that the pilot, which has been running throughout 2022, will be extended through the first quarter of 2023. They are also seeking companies that would be interested in participating in the pilot as either invoice issuers or invoice receivers.
The market pilot has just reached a major achievement where participants have started exchanging e-invoices using the framework. More than 30 organisations were involved in the market pilot waves.