" />
Published On: Mon, Aug 7th, 2017

Visa expands global transaction processing with facilities in Singapore, UK

EMEKA EJERE|

 

Global payments technology company, Visa has announced expanded transaction processing capabilities in two state-of-the-art data centres in Singapore and the United Kingdom.
According to the company, the new global processing hubs will increase the speed, resilience and geo-diversity of infrastructure, while strengthening the company’s ability to deliver new and more sophisticated ways to pay in today’s hyper-connected global economy.
“Commerce and payments are in the midst of an historic shift from analog to digital. A growing majority of people around the globe are leaving cash behind and reaching instead for their cards and devices to pay,” said Rajat Taneja, executive vice president of technology at Visa.
“With our technology investments in Asia and Europe, we’re scaling up our infrastructure to meet the explosive growth in digital and mobile payments, while maintaining the secure, convenient and always-on service that our clients and partners expect.”
The Singapore and UK data centers will complement Visa’s existing processing facilities in North America. With four synchronized data centers, Visa’s expanded footprint will boost the redundancy and resilience of its infrastructure, minimizing the likelihood of service disruptions to Visa’s 16,600 financial institutions, millions of merchant acceptance locations, and 3 billion cards.
The two centres are equipped with best-in-class technology, including high-performance hardware and energy-efficient power and cooling infrastructure. Visa plans to start processing global transactions in the two facilities in 2018.
Visa’s 10,000 square foot data center in Singapore is its first transaction processing centre in Southeast Asia and will serve clients, cardholders and merchants across the region and in company’s global network.
“As home to our Asia Pacific headquarters, Singapore is already a major hub for the Visa business,” said Chris Clark, group executive, Asia Pacific, Visa.
“With our new processing facility in Singapore, we’re strengthening our ability to meet rising demand for digital payments, while driving the pace of payment innovation across the Asia Pacific region.”
“We are delighted that Visa has chosen Singapore as the location for its new data center, reinforcing Singapore’s position as a trusted business and technology partner,” said Mr. Kelvin Wong, Assistant Managing Director, Singapore Economic Development Board.
“This investment strengthens the sophistication of Visa’s business footprint in Singapore and is a testament to Singapore’s regional leadership in data management and connectivity.”
The new data centre is Visa’s third major investment in Singapore in the last two years. In September 2016, Visa launched the first international campus of Visa University at its headquarters in Singapore.
In April 2016, Visa launched the Singapore Innovation Centre, a destination for clients, partners and developers across the region to work alongside Visa experts and jointly create next-generation commerce applications.
In June 2016, Visa Inc. announced the completion of its acquisition of Visa Europe, starting a multi-year process to combine the two companies into a unified global organization with a shared technology platform.
This integration brings 3,200 European clients onto VisaNet, Visa’s global transaction processing network, and involves a retrofit of Visa’s legacy data center in the UK.
According to the company, once fully retrofitted, the 10,000 square foot facility will bring increased operational resilience for clients in the region while accelerating the speed-to-market for new payment innovations in the European market.
“The launch of our state-of-the-art data centre in Europe is a critical milestone, enabling all our clients and partners to take advantage of Visa’s global technical resources and assets,” said Bill Sheedy, CEO Europe, Visa Inc.
Visa Inc.is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.
“We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants,” a statement by the company read in part.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Most Shared

Recent posts

  • FG grants PPAs of 14 solar projects another 6 months extension

    For the second time since 2016, the Federal Government  has extended by another six months, the deadline for the execution of the power purchase agreements (PPAs) it signed with investors for 14 utility solar power projects to be built in some states of the country. According to OGN reports it was reportedly rolled over after […]

  • Dangote Sugar targets 25% sales volumes in 2018

    The acting Managing Director of Dangote Sugar Refinery Plc, Abdullahi Sule, believes the company’s  sales volumes could rise as much as 25 percent in 2018 after last year’s downturn. Nigeria’s economy, which contracted in 2016, is recovering after the government relaxed some currency controls implemented after the price of oil, its main export, crashed in […]

  • Emefiele dismisses fears over MPC meeting, insists economy is strong

    The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has allayed the fears of Nigerians and the international community over the inability to hold the meeting of the Monetary Policy Committee (MPC) for January. A statement signed by Emefiele in Abuja on Monday, said that the meeting, which was earlier scheduled for the day […]

  • Nigeria, Angola crude overhang could pressurize Asian crude

    Traders have said that unsold barrels of crude from West Africa could put pressure on the premiums of Malaysian crude cargoes for March loading.   Platts reports that weaker demand, particularly from independent refineries in China, for February-loading Angolan and Nigerian grades has resulted in an overhang, traders said. Traders indicated that these grades were […]

  • NBS: 77.5m Nigerians engage in economic activities in Q3

    The National Bureau of Statistics (NBS) says 77.55 million people are engaged in economic activities out of a labour force of 85.08 million in the third quarter of 2017. The NBS disclosed this in a “Labour Force Statistics Volume 2: Employment by Sector report for Third Quarter of 2017’’ released by the bureau on Monday […]

  • Lassa fever: Schools reopen in Ebonyi

    Public and private schools in Ebonyi shut on Jan. 18 to check the spread of Lassa fever outbreak in the state have reopened the News Agency of Nigeria (NAN) reports. Prof. John Eke, the Commissioner for Education, told NAN on Monday in Abakaliki, that the schools were reopened as no new case of the disease […]

  • Four major markets in Nigeria need 36.27MW to grow efficiency – REA

    A baseline survey of the energy needs of four of the major markets in Nigeria, which the Rural Electrification Agency (REA) conducted, has indicated that with 36.27 megawatts (MW) of stable electricity provided to them, economic productivity in the markets could expand and bring more prosperity to about 50,900 shop owners there, OGN reports. The […]

  • ALSCON: Nigeria, Russia sign Share Purchase agreement

    Nigeria has signed the Renewed Share Purchase Agreement with Messrs UC Rusal of Russia in respect of the Aluminium Smelter Company of Nigeria (ALSCON). The agreement was signed in in Abuja on Friday by the relevant government stakeholders, including the Minister of Mines and Steel Development, Dr Kayode Fayemi. Present at the ceremony were the […]

  • Slimming drugs: Expert calls for stiff regulation

    Dr Bamidele Iwalokun, a medical researcher with the Nigerian Institute of Medical Research (NIMR) in Yaba, Lagos, has called for stiffer regulation of slimming drugs to safeguard the health of consumers. Iwalokun made the call in an interview with the News Agency of Nigeria (NAN) in Lagos on Sunday. He said there was the need […]

  • Derivatives trading: US expert speaks on the pluses and pitfalls

    As part of strategic initiatives to enhance the efficiency of capital market operations in Nigeria, The Nigerian Stock Exchange and Coronation Merchant Bank invited the former Chair of the US Commodities Futures Trading Commission (US CFTC), Mr. James Stone to deliver a special lecture on ‘Pluses and Pitfalls of Derivatives Trading’ at the Nigerian Stock […]

  • Ajimobi: Oyo set to increase institutions subventions

    The Oyo State Governor, Abiola Ajimobi, has appealed to the striking state-owned higher institutions that his administration is prepared to increase their subventions. The governor said this would be achieved as soon as government’s renewed efforts to improve its revenue-base begin to bear fruits. Ajimobi, who made the appeal while inaugurating the governing councils of […]

  • SEC’s e-dividend free registration ends Feb 28

    The Securities and Exchange Commission (SEC) has extended period for the free e-dividend registration to Feb. 28, to encourage more shareholders participation in the initiative. The commission in a statement obtained by the News Agency of Nigeria (NAN) in Lagos, indicated that the extension was part of its developmental role. It said that the extension […]

  • Nigerian equities market goes bearish after hitting over nine year high

    FELIX OLOYEDE Profit-taking caused the Nigerian Stock market to go bearish for the first time this week after reaching over nine year high on Wednesday. The All Share Index declined -0.08 per cent to close at 44,848.74 point on Thursday after hitting 44885.24 point the previous day, the highest since September 2008 when it closed […]

  • 2019: Wike gets second term endorsement

    Residents of River state have endorsed the Governor, Nyesom Wike, for another term of four years. They declared their support for the governor when over 15,000 non-indigenes of the state visited the Government House on Wednesday in Port Harcourt, the state capital, Channels TV reports. Wike urged Nigerians irrespective of their linguistic and religious affiliation […]

  • Banks enjoy improved liquidity as overnight rate drops three consecutive days

    FELIX OLOYEDE The redemption of Treasury Bills by Federal Government has helped to improve liquidity in Nigerian banking sector as overnight rate declined three consecutive times this week. Overnight (O/N) rate dropped -0.75 per cent to 5.75 per cent on Thursday, while Open Buy Back (OBB) rate was down -0.92 per cent to 5.25 per […]

  • Lassa fever: Ebonyi Schools proceed on forced break

    Schools in Ebonyi State have been directed to close for a week following the outbreak of Lassa fever in the state. The state government said the directive was given as part of measures to contain the spread of the disease in the state. Commissioner for Health, Umuzuruike Daniel, also confirmed the death of three victims […]