Advantages at a glance:
- International data interchange standard
- Faster and more efficient electronic data exchanges
How does EDIFACT work?
EDIFACT (Electronic Data Interchange for Administration Commerce and Transport) is an international electronic data exchange standard. Unlike today’s data storage formats, EDIFACT allows for the extension and liberalisation of data structures for payment transactions by offering a range of new data fields and extensions.Your company can be more responsive to customer requirements by using these fields.
The following transaction types (message types) can be sent using EDIFACT:
- Transfers to banks
- Debit orders to banks
- Incoming transfers from banks to you
- Returned debits
For a more detailed description of the various message formats visit the STUZZA (Studiengesellschaft für Zusammenarbeit im Zahlungsverkehr GesmbH) website. STUZZA has standardised the data formats used by the Austrian banks in cooperation with them.