Environment:
iVend 6.6
Problem statement :
While sending the Email from iVend MC using SMTP.Office365.com, it displays the error "Failure sending email..."

<InnerExceptionInfo>
<Type>System.IO.IOException</Type>
<Message>Unable to read data from the transport connection: net_io_connectionclosed.</Message>
<Source>System</Source>
<TargetSite>Int32 ProcessRead(Byte[], Int32, Int32, Boolean)</TargetSite>
Issue Details:
While sending the Email from iVend MC using SMTP.Office365.com, it displays the error "Failure sending email..."

<InnerExceptionInfo>
<Type>System.IO.IOException</Type>
<Message>Unable to read data from the transport connection: net_io_connectionclosed.</Message>
<Source>System</Source>
<TargetSite>Int32 ProcessRead(Byte[], Int32, Int32, Boolean)</TargetSite>
Symptoms :
Not Applicable
Resolution/Work Around:
The issue is related to SMTP.Office365.com where Microsoft has stopped the TLS1.0, TL 1.1 .
Suggest to Disable TLS1.0, TLS 1.1 & Keep TLS 1.2 Enable in environment .
Suggest to check the below URL, which may help you on the same.

https://stackoverflow.com/questions/28362132/office-365-smtp-starts-firing-net-io-connectionclosed
https://docs.microsoft.com/en-us/windows-server/security/tls/tls-registry-settings
https://docs.microsoft.com/en-us/answers/questions/47472/how-to-disable-protocols.html
Recommendations /Suggestion :
1.It is recommended to configure such setting ( Disable TLS1.0, TLS 1.1 & Keep TLS 1.2 Enable in your environment .) on TEST , before doing on Production .
2.For any queries, raise a ticket on portal