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Visa makes it easier to pay and be
paid. Visa payment transactions take place every second of every day in every
corner of the world. This is accepted in more than 200 countries and
territories across the globe. Behind each Visa transaction is a remarkable
infrastructure ensuring that no matter how you accept Visa payments, the
process will be safe, reliable and convenient.
VisaNet is a powerful processing
network that delivers scale, reliability, security, and the fast, seamless
experience consumers expect. Here’s a video to help explain.
Visa’s network connects
cardholders, merchants and financial institutions around the world.
Visa’s technology infrastructure
includes a robust set of processing services powered by VisaNet including core
transaction processing, risk management and information-based services.
History of Visa
Visa has been at the forefront of
electronic payments since its inception. From the first revolving credit card
platform to neural networks and mobile payments, Visa has pioneered the growth
and development of this fast-moving industry. Visa’s payment platforms are
increasingly the backbone of global commerce, enabling the swift and secure
transfer of value and information among financial institutions, individuals,
businesses and government entities.
Who’s involved?
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The typical Visa transaction involves four parties:
o
The
merchant is any entity — a store, restaurant, physician, utility company,
online retailer, hotel, or airline — that accepts Visa as payment.
o
The
acquirer is a financial institution that initiates and maintains
contractual agreements with merchants for the purpose of accepting and
processing Visa card transactions and enables Visa card payments from
customers.
o
The
issuer is a financial institution that provides Visa-branded cards or other
Visa-branded payment products to consumers and businesses. When a Visa-branded
credit card is used, the issuer “lends” the consumer the funds to complete the
transaction. If it is a debit or prepaid card transaction, the funds are
automatically withdrawn from the account and transferred to the acquirer.
o
The
cardholder is any consumer or business using a Visa card or other Visa-branded
product to make payments.
The transaction
journey
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A Visa transaction is a carefully
orchestrated process. When a Visa account holder uses a Visa card to buy a pair
of shoes, it’s actually the acquirer — the merchant’s bank — that reimburses
the merchant for the shoes. Then, the issuer — the account holder’s bank —
reimburses the acquirer, usually within 24 to 48 hours. Lastly, the issuer
collects from the account holder by withdrawing funds from the account holder’s
bank account if a debit account is used, or through billing if a credit account
is used.
What this means for
you
You can rest assured that your
customers’ transactions will be smooth and seamless – every time. You can trust
that transmitted information will be kept safe and secure. And you can feel
confident that the power and leadership of the Visa name stands behind you,
always pursuing ways to improve the transaction process.
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Value for All
The system works because it’s global, secure, reliable,
convenient and it’s efficient. All parties derive value from the transaction.
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