NACHA has announced that the Business Payments Directory Association (BPDA) will become an independent, member-led, self-governed group under the NACHA organisation. The union will strategically align the efforts of the two organizations to facilitate business-to-business (B2B) payments through development and deployment of a B2B Payments and Remittance Directory. In August 2018, BPDA, in partnership with Discover Financial Services, began work on a proof-of-concept platform for a B2B Directory built on blockchain technology. The alliance will also help support and advance the proof-of-concept effort to ensure rapid delivery to the industry.
The B2B Directory will be structured as a network of credentialed service provider 'sub-directories', in which trusted and validated payee information will be stored. Credentialed service providers will allow access to the stored electronic payment information, including ACH payment details and other payment methods. Payers can query the Directory to obtain information of a single payee or multiple payees, and payees can manage their information in real time to ensure payment details are current. To support the robust capabilities of the Directory, the platform will leverage open source technologies, blockchain/distributed ledger technology and standardised Application Programming Interfaces (APIs) developed by the member-led organisation Afinis Interoperability Standards (formerly the API Standardisation Industry Group).