Call for expression of interest: workshop on the future of business-to-business (B2B) payments

5 August 2024

In line with the Eurosystem’s retail payments strategy, the ECB believes in the importance of achieving a higher level of efficiency, strategic autonomy and resilience in retail payments, as well as in supporting digitalisation and innovation. These goals are central to the digital euro project, the preparation phase for which was launched in November 2023. This project will initially prioritise person-to-person (P2P), point-of-sale (POS), e-commerce and government (G2X and X2G) payments, including the automatic triggering of a payment based on predefined conditions agreed by both payer and payee (conditional payments). Simultaneously, the ECB is conducting exploratory work on new technologies for wholesale central bank money settlement (ntwCeBM).

Neither the digital euro project nor the ntwCeBM work currently addresses business-to-business (B2B) payments. However, the ECB is attentive to such corporate payments use cases, particularly in support of Europe’s industries in their development of smart factories, the Industrial Internet of Things and advanced manufacturing – often referred to as “Industry 4.0”. To fully leverage the potential of the evolving payments landscape and ongoing initiatives, the ECB is planning a special focus workshop on innovations in B2B payments and the role central bank money could play. The potential of private undertakings such as e-money tokens (“stablecoins”), commercial bank money tokens (CBMT) and other, similar forms will also be discussed. The workshop would be an opportunity to gather input from stakeholders on the challenges and needs arising from new uses cases related to B2B payments. It would also provide a forum in which to assess these against the objectives of the ongoing initiatives both of the European payments industry and the Eurosystem’s retail payments strategy and initiatives.

The workshop would moreover be an opportunity to discuss the area of B2B payments in a context where business processes and supply chains are increasingly automatised and digitalised both within and among firms. The focus of the discussion would predominantly be on which use cases need to be addressed and identifying the shortcomings of currently available solutions. The input received during this workshop will feed into further reflection by the Eurosystem on the need to support innovative B2B use cases and the most effective means of doing this. The workshop will be split into two parts, to allow both, selected initiatives by the banking and payment industry to present their plans.

How can I present my perspective?

Representatives from the European corporate sector and the banking and payment sectors who wish to present their perspectives during this workshop are invited to submit their applications along with the completed application form to B2Bworkshop@ecb.europa.eu, by 13 September 2024. The application process requires the submission of input that should serve as the basis for a potential presentation.

In the case of presentations addressing private sector needs and challenges with existing B2B payment solutions, or private solutions for B2B payments, input is required to answer some (though not necessarily all) of the following questions:

• Which specific B2B use cases are currently not, or not adequately, addressed and would remain insufficiently addressed in the near future in the absence of new initiatives?
• Which use cases do you see as being key for conditional (“programmable”) payment services for corporates?
• How can the full deployment of instant payments help address emerging B2B use cases? Are there dependencies with other ecosystems (e.g. electronic identity (eID) solutions and the digitisation of supply chain processes)?
• Why cannot these use cases be sufficiently addressed currently with commercial bank money solutions? How could new solutions based on either commercial or central bank money better address these use cases?
• For what new corporate payment use case would you see a need for central bank money, possibly with specific technology?
• If you are planning to address emerging B2B needs, what are (i) the use cases addressed by the solution, (ii) the technological aspects of the solution, and (iii) the current status and future development plans for this solution?
• Would safeguards foreseen for a digital euro, such as holding limits, have to be transposed into B2B use cases? How?

When preparing your application, you are encouraged to consider thoroughly the high-level product design for the digital euro endorsed by the Eurosystem, as well as the draft legislation proposed by the European Commission. More information about the ongoing work on ntwCeBM can be found here.

The ECB will select the presenters for this workshop taking particular account of the following criteria:

• Input provided with the application;
• Applicant’s experience in concrete projects related to the relevant topic;
• Geographic and industry heterogeneity/balanced representation across EU-based companies.

The ECB will inform applicants by end of September whether or not they have been selected to give a presentation at the workshop and will, in due course, update the programme accordingly.

The ECB may also, at its own discretion, exclude proposals that do not comply with other substantial formal requirements.

I am interested in B2B payments. Can I just attend?

The workshop will be held as a closed working session to foster a discussion among representatives from the European corporate sector and the banking and payment sectors members.

Industry stakeholders interested in just attending the workshop, without giving a presentation, are invited to express their interest via the application form below by 13 September.

The ECB will decide on the final composition of the workshop sessions based on the assessment of all registrations received and taking into consideration the above-mentioned criteria, as well as capacity constraints and technical limitations.

Practical information

When: 9 October, 09.00-12.30 (CEST)

Language: English

Hybrid format (in person and virtual)

Note:

• The presentations and discussions during this workshop will feed into further Eurosystem internal reflection on the most effective means of supporting innovative B2B use cases. Participation (or non-participation) will have no bearing on participation in future calls for expression of interest or technical exploratory activities that could be carried out as part of the Eurosystem’s work.