SunTec’s Xelerate Card Services suite will track more than five billion Visa transactions every month
SunTec, a world-leading provider of revenue management and business assurance solutions,announced today that Visa Europe will deploy its new Xelerate Card Services suite.
Visa Europe, a payments technology business owned and operated by member banks and other payment service providers,will use Xelerate to track a peak volume of 100 million transactions a day supplied by various transaction processing systems. Xelerate 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 tracking 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.”
Visa Europe, which plans to deploy Xelerate on IBM’s DB2 database software, will be able to use the suite to support real-time billing. Completely database-agnostic, Xeleratehas a modular and flexible architecture. The suite can support complex negotiated pricing, enhanced risk management strategies, regulatory compliance and full transparency. Many of the world’s leading financial services institutions use SunTec's pricing and centralized billing product suites.
“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 Business Solutions. “VisaEurope’s decision to choose Xelerate further validates our strategic focus on the revenue management space. We have taken an important step towards the business of the future.”