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25/10/2010 -
Visa recently received the IBM Information on Demand 2010 Innovation Award for leadership in information technology and real-time data analytics.IBM Global Payments vice president, James Wallis, said the company chose to recognize Visa because of the card issuer's commitment to analyzing the data behind each transaction and to providing value-added services to cardholders, merchant banks and retailers.
"Few people recognize the critical role VisaNet plays in not only transactions processing, but delivering business intelligence and real-time information that empowers financial institutions, retailers and Visa account holders," said Mike Dreyer, chief information officer for Visa.
More than 1.8 million retailers and ATMs accept Visa worldwide, making VisaNet the largest retail electronic payments network in the world. Its centralized organization allows for real-time analysis, which IBM sees as a catalyst for innovation.
Last year, Visa opened a U.S.-based global payment processing center in partnership with IBM that is capable of processing 10,000 transactions per second by combining the Visa Integrated Payment platform with IBM's System z Transaction Processing Facility. VisaNet has a total of four processors worldwide.
