EDI (Electronic Data Interchange)

Magic-Wrighter's Electronic Data Interchange software sends your business customers payment and other transaction information that is posted to their corporate account(s) daily.

The movement of payments between business customers traditionally has been by paper check via the U.S. mail or other courier services. That is changing. Today many companies pay their business customers (trading partners) electronically.

When your business customers are paid electronically they must wait until the end of the month for the corporate statement or call your financial institution to know the exact amount of each electronic payment. Calling your financial institution to retrieve electronic payment information is time consuming for your business customer and costly for your financial institution.

Magic-Wrighter's Electronic Data Interchange software automatically extracts all information regarding transactions transmitted through the Federal Reserve network and forwards the payment and other transaction information to your business customer via fax or Internet.

Complex CTX transactions are translated into easily readable reports.

The Electronic Data Interchange program transmits EDI information to your business customer daily as soon as it becomes available from the Federal Reserve.