Tungsten Network launches new payment receipt solution for Mexico

Tungsten Network customers in Mexico can now submit payment receipts in the required CFDI format. Tungsten Network validates the document, matching it against the invoices previously issued by the customer, and delivers the result to the recipient. Payment receipt CFDIs are archived compliantly, with the entire process taking place within the Tungsten Network portal.

Tungsten Network officials commented that with more and more governments around the world mandating B2B and B2G e-invoicing processes, and compliance regulations becoming increasingly complex, it is more important than ever that Tungsten Network continues to review and expand their services.

Mexico is the world’s first mandatory e-invoicing market, having instituted a mandate in 2011 for all B2B and B2G transactions in the country in a bid to reduce inefficiencies and combat fraud. All invoices raised in Mexico must be filed digitally in a pre-specified format called a ‘Comprobante Fiscal Digital por Internet” (CFDI).