SunTec lets Visa put its foot down and Xelerate
Visa Europe is to introduce a new services suite called Xelerate Card Services from revenue management and business assurance firm SunTec, which it will use to track a peak volume of 100 million transactions a day.
Xelerate is designed to help bill member banks and approved non-members of Visa Europe in 36 countries. Visa Europe plans to deploy Xelerate on IBM’s DB2 database software. The firm will then be able to support real-time billing. Xelerate has been designed in modules, and is built to support complex negotiated pricing, risk management strategies, regulatory compliance and greater transparency.
“After a very thorough evaluation process, we chose SunTec’s Xelerate suite because it is a highly flexible solution that is well suited to trading the rapidly growing number of transactions generated by the 470 million Visa cards in use in Europe,” said Steve Chambers, executive vice-president and chief information officer of Visa Europe. “Moving forward, SunTec’s product roadmap will give Visa Europe considerable scope to evolve and innovate in this pivotal area of our business.”