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Payments General

Visa Europe completes EUR 0.5 billion investment in European processing platform

Monday 4 October 2010 | 09:52 AM CET

Visa Europe has completed the migration to a new inter-bank processing platform in a bid to provide its member banks with an ACH (authorisation, clearing and settlement) system designed exclusively to meet European requirements.

Capable to handle both cross-border and domestic market transactions, the platform processes approximately 2,500 transactions per second at average speeds of around 20 milliseconds per transaction and offers same-day national settlement services to its members in Europe in 18 currencies.

Moreover, with the new system, Visa Europe’s members have the ability to own and control the processing system in order to drive their own investment decisions. The newly developed platform also includes SMS mobile transaction text alerts, fraud detection scoring and device profiling services.
 

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