E-Signature Pact Propels Global Digital Commerce

Published Date: 30/07/2024

The new E-commerce Agreement negotiated by the World Trade Organization (WTO) recognizes e-signatures, governs global digital commerce, and promotes online fraud protection, benefiting companies like Nitro Software, Videosign, and itsme.

The digital commerce landscape is set to undergo a significant transformation with the recent E-commerce Agreement negotiated by the World Trade Organization (WTO). Signed by around 80 countries, including the UK, the agreement aims to govern global digital commerce, recognize e-signatures, and provide legal safeguards against online fraud. This development is expected to benefit digital signature providers like Nitro Software and Videosign, as well as digital ID platforms like itsme.\n\nThe agreement, hailed as the first global rules on digital trade, seeks to digitalize customs documents and processes, recognize digital documents and signatures, and enact legal safeguards against online fraud. Although some large nations like the United States are not among the signatories, the agreement is expected to have a far-reaching impact on the global digital economy.\n\nAccording to WTO Executive Vice-President and Commissioner for Trade Valdis Dombrovskis, the agreement will be fundamental for the development of global digital trade, setting a common ground and avoiding fragmentation. It will facilitate cross-border electronic transactions, reduce barriers to digital trade, and promote innovation in e-commerce, ultimately benefiting businesses and consumers alike.\n\nIn a related development, Nitro Software has initiated a strategic partnership with itsme to expand its footprint in the Irish market. The partnership will allow users to select itsme's digital ID verification as their preferred method when signing a document with Nitro Sign Premium. This integration will bring unparalleled security, compliance, ease of use, and cost-efficiency to the Irish eSignature market, enabling Nitro to offer seamless and secure Qualified Electronic Signatures (QES) to customers in highly regulated industries.\n\nSimilarly, Videosign has integrated its e-signature services into intelliflo, allowing financial advisors to meet clients and securely sign and witness the signing of documents within a single platform. This partnership is expected to simplify workflows and improve efficiency for advisors, while providing a more seamless and user-friendly interaction for clients.\n\n  Information \nNitro Software is a San Francisco-headquartered company that offers eSignatures and other SaaS document solutions. Itsme is a Belgian digital identity firm that provides digital ID verification services. Videosign is a Liverpool-based digital signature company that offers e-signature services. Intelliflo is a financial advice software provider.\n\n   \nNitro Software is a leading provider of eSignatures and other SaaS document solutions. Itsme is a digital identity firm that offers digital ID verification services. Videosign is a digital signature company that provides e-signature services.

FAQs:

"Q: What is the purpose of the E-commerce Agreement?

A: The agreement aims to govern global digital commerce, recognize e-signatures, and provide legal safeguards against online fraud.

Q: How many countries have signed the agreement?

A: Around 80 countries, including the UK, have signed the agreement.

Q: What is the benefit of the agreement for businesses?

A: The agreement will facilitate cross-border electronic transactions, reduce barriers to digital trade, and promote innovation in e-commerce, ultimately benefiting businesses and consumers alike.

Q: What is the significance of the partnership between Nitro Software and itsme?

A: The partnership will allow Nitro to offer seamless and secure Qualified Electronic Signatures (QES) to customers in highly regulated industries.

Q: How will the integration of Videosign's e-signature services into intelliflo benefit financial advisors?

A: The integration will simplify workflows and improve efficiency for advisors, while providing a more seamless and user-friendly interaction for clients."

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