Visa Europe to Xelerate tracking

THIRUVANTHAPURAM: City-headquartered SunTec, a provider of revenue management and business assurance solutions, announced that Visa Europe will deploy its new Xelerate Card Services suite.

Visa Europe is a payments technology business owned and operated by member banks and other payment service providers, which will use Xelerate to track a current peak volume of 100 million transactions a day supplied by various transaction processing systems.

Xelerate, as explained further, will help bill the member banks and approved non-members of Visa Europe in 36 countries in accordance with sophisticated pricing structures.

"After a very thorough evaluation process, we chose SunTec's Xelerate suite because it is a highly flexible solution that is well-suited to track the rapidly growing number of transactions generated by the 470 million Visa cards in use in Europe," said Steve Chambers, EVP and CIO 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," he added.

"Handling large volumes of transactions is our core competency and it is an honour to provide end-to-end revenue management services for Visa Europe, a transaction-oriented business," said Nanda Kumar, president and CEO of SunTec.