Electronic Funds Transfer
EFT provides for electronic payments and collections. It is safe, secure, efficient, and less expensive than paper check payments and collections. A recent study showed that, while it costs the U.S. government $.89 to issue each check payment, it costs only $.09 to issue an EFT payment.
Evaluated Receipt Settlement
Evaluated Receipt Settlement (ERS) is an automated invoice and payment system.
Our business partner creates an invoice on the supplier's behalf once goods are received into their inventory or are consumed in production. This eliminates the need to mail paper invoices, and dramatically reduces the costs associated with processing payments.
IVF will accept payments made by Mastercard, Visa and American Express.
Electronic Data Interchange (EDI)
Electronic Data Interchange (EDI) is a set of standards for structuring information that is to be electronically exchanged between and within businesses, organizations, government entities and other groups. The standards describe structures that emulate documents, for example purchase orders to automate purchasing and facilitate transactional cost savings.