the EDI 810, 820, etc formats that can be used by the previous example of the automobile industry ... being able to feed p-card transactions directly into backend a/p system ... are also standard format used in ACH bank network. An example is 3rd party bill processor doing funds transfer for single aggregate total with individual account remittence broken down into ACH addenda record using EDI defined format (i.e. just need to know how to get the data items into ACH ... some ACH addenda records can get quite large).
the x9.59 financial standard does provide for digital signature strong authentication for all account-based transactions (credit, debit, ach, check, stored-value, etc). reference recent ACH trials ... http://www.garlic.com/~lynn/nacharfi.htm NACHA AADS RFI http://internetcouncil.nacha.org/Projects/ISAP_Results/isap_results.htm NACHA AADS results!! the design has strong authentication carried as part of the seemless, end-to-end single transaction (authorization business process also responsible for authentication business process w/o any major gaps and/or holes http://www.garlic.com/~lynn/ ... misc. x9.59 financial standard issues. misc. other nacha references http://www.garlic.com/~lynn/aadsm6.htm#echeck Electronic Checks http://www.garlic.com/~lynn/aadsm6.htm#aadsatm (certificate-less) digital signatures can secure ATM card payments on the internet http://www.garlic.com/~lynn/aadsm6.htm#pcards The end of P-Cards? http://www.garlic.com/~lynn/aadsmore.htm#nacha NACHA digital signature pilot http://www.garlic.com/~lynn/aadsmore.htm#debitfraud Debit card fraud in Canada http://www.garlic.com/~lynn/aepay6.htm#ecomich call for new measures: ICH would be glad to help http://www.garlic.com/~lynn/aepay6.htm#userauth MS masters NC mind-set (authentication is the key) http://www.garlic.com/~lynn/aepay7.htm#nonrep1 non-repudiation, was Re: crypto flaw in secure mail standards http://www.garlic.com/~lynn/aepay7.htm#nacha Nacha reports mentions X9.59 payment protocol http://www.garlic.com/~lynn/aepay7.htm#visadeb1 Visa Debit Card http://www.garlic.com/~lynn/aepay7.htm#netbank net banking, is it safe?? ... power to the consumer http://www.garlic.com/~lynn/ansiepay.htm#aadsnwi2 updates for (AADS) Relying-Party Certification Business Practices http://www.garlic.com/~lynn/ansiepay.htm#aadsach NACHA to Test ATM Card Payments for Consumer Internet Purchases http://www.garlic.com/~lynn/ansiepay.htm#atmdebit NACHA AADS ATM debit ... from tomorrow's american banker http://www.garlic.com/~lynn/99.html#217 AADS/X9.59 demo & standards at BAI (world-wide retail banking) show http://www.garlic.com/~lynn/99.html#224 X9.59/AADS announcement at BAI this week http://www.garlic.com/~lynn/2001c.html#72 PKI and Non-repudiation practicalities http://www.garlic.com/~lynn/2001f.html#79 FREE X.509 Certificates http://www.garlic.com/~lynn/2001h.html#5 PKI/Digital signature doesn't work http://www.garlic.com/~lynn/2001h.html#36 PKI/Digital signature doesn't work http://www.garlic.com/~lynn/2001h.html#37 Credit Card # encryption http://www.garlic.com/~lynn/2001h.html#53 Net banking, is it safe??? http://www.garlic.com/~lynn/2001h.html#58 Net banking, is it safe??? http://www.garlic.com/~lynn/2001i.html#9 Net banking, is it safe??? http://www.garlic.com/~lynn/2001i.html#16 Net banking, is it safe??? http://www.garlic.com/~lynn/2001j.html#0 E-commerce security???? http://www.garlic.com/~lynn/2001j.html#49 Are client certificates really secure? David Goldberg <[EMAIL PROTECTED]> at 10/02/2001 08:36 AM -Quick and efficient settlement: Banks, the subject of another email in this string, maintain an effective inter-bank clearing network, i.e. ACH and other country-specific networks, that is actually very efficient at moving money between bank accounts at different banks. Until there is a better solution, banks will continue to play a valuable intermediary role in the world's ability to move money. Commercial settlement solutions should leverage this strength. The real issue here is that the ACH network, albeit effective at moving dollars, is ineffective at moving the data associated with those dollars (see next point). -Rich remittance information: One of the least efficient and costliest activities involved in B-to-B settlement is the time and resources it takes to generate payments on the buyer side and, even more so, post and reconcile payments on the seller side. Buyers and sellers both benefit significantly when remittance information and addenda records move with the payments through the system. The largest value-add for either participant would be the ability to include as much descriptive remittance as is required for more efficient back-office payment processing. Furthermore, the need to keep the "dollars and data" together from end-to-end is critical. Once separated, as happens with a fEDI transaction that flows into a bank for back-end ACH settlement, remittance information requires manual processing or re-keying. When bits turn into atoms and back again, errors inevitably occur. All you have to do is ask your nearest Account Receivable Manager or Controller about the remittance and reconciliation limits of ACH, fEDI, P-Cards and paper checks. -Integration with existing A/P and A/R systems: The sheer number of various ERP systems currently installed within enterprises, and the systems-related investment constraints of mid-sized and small businesses, seem to leave only paper checks as the only ubiquitous payment solution. However, given the remittance, security/fraud and settlement timing issues associated with checks, buyers and sellers need an electronic payment solution that is acceptable and usable by companies of all sizes. Therefore, the ability of any payment and settlement application to integrate into these systems and software, without necessitating changes to those systems, makes remittance flow and reconciliation even more efficient. A buyer should be able to generate their regular pay run within their existing A/P system environment and process, include addenda in the proscribed format of that system and disburse it electronically to all of its vendors regardless of vendor size, systems capabilities or preferred remittance format. Likewise, a seller should be able to receive remittance in their A/R system's proscribed format for electronic uploading and posting, from any of its business customers regardless of size, systems capabilities, etc. -Security: Digital signatures using strong PKI encryption, buyer- and seller-side system access controls and secure Internet transmission are all available technologies to solve the critical authentication, theft and fraud protection issues. These should be table-stakes in today's commercial environment.
