Question

A way to incorporate the advantages of Electronic Data Interchange with the Electronic Funds Transfer is

A) Financial Electronic Data Interchange.
B) e-commerce.
C) to use procurement cards.
D) an electronic lockbox.

Answer 1

Financial Electronic Data Interchange (FEDI) is a way to combine the advantages of Electronic Data Interchange (EDI) with Electronic Funds Transfer (EFT), enabling efficient and secure financial transactions.

Step-by-step explanation:

The correct answer is A) Financial Electronic Data Interchange. Financial Electronic Data Interchange (FEDI) is a way to combine the advantages of Electronic Data Interchange (EDI) with Electronic Funds Transfer (EFT). EDI involves the exchange of structured data between different computer systems, while EFT refers to the electronic transfer of funds between bank accounts. FEDI allows for the seamless integration of data exchange and funds transfer, offering efficient and secure financial transactions.