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” EDI is a mechanism that allows companies to exchange data electronically, to replace manual communication channels like fax or paper correspondence. However, it isn’t just the use case of buyer-supplier collaboration and communication in which electronic data is now a must. The technology first emerged in the 1970s.
Before that, the B2B and B2C legislation had already introduced a similar prohibition, but financial services had been (partially) exempted. Such exemption for financial services, however, does not appear in the new Civil Code. of the new Civil Code, the B2B and the B2C regime. Unfair terms: Article 5.52 Article 5.52
Today, their technologies must communicate with existing infrastructures as systems migrate to the cloud, address the points of friction before and after payment, and support the needs of not only the corporate payer, but of the payee, too. Overall, the space is taking a positive approach to change.
That’s especially true for corporate and B2C transactions, he said. He pointed to ISO 20022, a universal financial industry messaging scheme that can work with current financialsystem infrastructures and hasten the development of new ones. (As
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