Processing payments: delivering speed, reliability and security

By Tom Houghton, Chief Officer, Processing • Visa Europe Processing

June 09, 2016

At its core, payments processing is all about speed, reliability and security. The payments ecosystem is becoming more global and driven by innovation. At Visa Europe, having established separated scheme and processing businesses ahead of today’s European regulatory deadline, we are positioned well to continue to deliver the core processing capabilities that meet our customers’ needs.

Our performance demonstrates how we deliver those requirements for our customers 24 hours a day, 7 days a week, 365 days a year. In the last 12 months, we’ve recorded 20 billion transactions peaking in excess of 2,000 transactions per second in the pre-Christmas period. In fact, even on Christmas Day we processed transactions worth more than €500m, the majority of it online through e- and m-commerce, clearly demonstrating the changing dynamics of consumer behaviour that we are making possible.

Back in September 2015 we hit a new milestone when the Visa Europe network maintained 100% availability of our systems for our customers for the 100th month in a row – we’re now on 108 and counting. And we’re proud of the exemplary service levels and standards we’ve consistently achieved for authorised and processed transactions at 99.999%.

Security is harder to put into pure numbers but it’s something Visa takes extremely seriously and we continue to invest heavily in multiple layers of cyber and data security.

Processing is a highly competitive market, so it is vital that we stay at the forefront of innovation and deliver reliable, secure and fast services. We look forward to expanding our processing business in Europe and will continue to develop our processing capability, by collaborating with partners and incorporating developments in technology to provide the fastest route to market for many in the payments industry.

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