Invented by French Interbank Teleclearing System Economic Interest Grouping (GSIT) in 1986, PeSIT stands for Protocole d'Echange du Système Interbancaire de Télécompensation meaning "Inter-bank electronic payment system protocol" and is file transfer protocol like FTP (File Transfer Protocol) only this one is supposedly better at ISO/OSI wherein ISO is International organization of Standardization and OSI is Open Systems Interconnection. This is the protocol Axway uses to transfer files.
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