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Electronic data interchange (EDI) is the concept of businesses electronically communicating information that was traditionally communicated on paper, such as purchase orders, advance ship notices, and invoices. Technical standards for EDI exist to facilitate parties transacting such instruments without having to make special arrangements.
The Data Interchange Standards Association (DISA) was the organization that supported various other organizations, for the most part, responsible for the development of cross-industry electronic business interchange standards. DISA served as the Secretariat for ASC X12 and their X12 EDI and XML standards development process. As of January 2016 ...
In developed countries existing legacy banking systems and rules has slowed down the development of electronic billing. For example, in the United States financial institutions typically formally prohibit the use of their consumer electronic bill payment systems for payments to certain agencies such as: collection agencies, or recipients of ...
Other banks pass the fees on by charging customers for downloading QFX files. Because Microsoft Money imports either QIF or OFX format files, and Microsoft does not charge banks any licensing fees to use OFX for Money, banks do not normally charge for downloading QIF and OFX files. (QIF and OFX are open formats, free for anyone to use.)
The Accredited Standards Committee X12 (also known as ASC X12) is a standards organization.Chartered by the American National Standards Institute (ANSI) in 1979, [2] it develops and maintains the X12 Electronic data interchange (EDI) and Context Inspired Component Architecture (CICA) standards along with XML schemas which drive business processes globally.
XML/EDIFACT is an Electronic Data Interchange (EDI) format used in Business-to-business transactions. It allows EDIFACT message types to be used by XML systems. EDIFACT is a formal machine-readable description of electronic business documents. It uses a syntax close to delimiter separated files.
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