Processing
At the heart of the Visa payment system is VisaNet – a highly sophisticated, totally reliable and extremely secure worldwide IT network.
VisaNet is one of the biggest communications networks in the world. It reaches out to every bank and merchant that participates in Visa, and plays a central part in all Visa transactions, domestic and cross-border.
The systems that make up VisaNet are capable of connecting any cardholder’s bank to any merchant’s bank, from any point of sale in the world, at any time.
VisaNet applications include:
- Transmitting real-time authorisation requests and approvals
- Carrying out clearing and settlement – calculating on a daily basis what each of the 20,000 Visa member banks owe to each other
- Stand-in processing services, such as taking authorisation decisions on behalf of card issuers, according to sophisticated preset parameters
- Value-added services such as cardholder authentication, fraud screening and transaction storage and retrieval
Processing: where business and technology meet (PDF 0.1MB) – read our latest white paper on processing, based on input from member banks and industry experts.
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