Visa Europe to use Kerala IT firm's solution

City-headquartered SunTec, a world-leading provider of revenue management and business assurance solutions, Friday 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 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.

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.

Trusted by world's leading banks and communication service providers in over 50 countries, SunTec's key client partners include global enterprises like HSBC, ICICI, ING, DBS, Standard Bank, Commerzbank, CableOne, Bakrie Telecom, Batelco, QTL and KPN.