UK banks back secure B2B initiative
Barclays Bank and the Royal Bank of Scotland are to work with some of the world's largest financial institutions to launch a secure online direct business-to- business (B2B) payment initiative.
Dubbed Project Eleanor, the proposed standard provides web-based specifications to initiate B2B payments which link into existing bank systems. Trading partners will have an alternative to traditional paper-based payment methods to execute ebusiness transactions.
