Visa Corp. has implemented its bi-annual software update to VisaNet, a payment network that processes an average of...
April 11, 2005
Visa Corp. has implemented its bi-annual software update to VisaNet, a payment network that processes an average of 100 million transactions each day.
The software release contained 1.2 million code changes that were implemented in all four Visa data centers around the world over a 24-hour period beginning on April 1, while Visa’s payment system continued to process transactions at an average rate of 3,500 transaction messages a second.
The upgrade contains enhancements to VisaNet, making it easier for Visa and card issuers to track purchases that qualify for rewards, broadening Visa’s ability to track and process chip and contactless transactions, simplifying the activation and loading of prepaid Visa products, and streamlining the charge-dispute process.
Visa invested an estimated US$29 million related to 33 projects, involving nearly 200,000 person-hours of work by programmers, testers, analysts, designers and managers who spent the last nine months preparing for the release.