NEW YORK - Visa International plans to create a separate company that will solely handle credit and debit card processing. Announced April 3, the new venture will be a direct subsidiary of Visa International and be known temporarily as the shared services organization. According to American Banker, the new company will initially just offer settlement and authorization functions that have been handled by VisaNet. Eventually, the services the company provides will expand and potentially compete directly with First Data Corp., Electronic Data Systems Corp. and other outsourcing companies.
Visa creates separate unit for credit, debit card processing
Comments
Resource Center
View All »How Enterprise Software Helps Financial Services Firms Improve Efficiency and Reduce Costs
This white paper describes how enterprise software solutions, when built on a flexible and adaptable technology platform, can help financial services firms streamline workflows, consolidate...
Getting Ready for IFRS
This white paper describes how your company can make the transition to IFRS in a timely and cost efficient manner as well as what your...
