Visa hosts a seminar for banks on the benefits of electronic payment products while launching VisaVue in Egypt

Cairo, Egypt - November 29 2012

Visa today hosted an informational session for staff members from partner banks entitled "Intelligence in your Hands: VisaNet and VisaVue Online Seminar."  The one-day seminar was made up of interactive sessions about Visa's electronic payments platform, VisaNet and was a launch-pad for VisaVue and Visa's advanced security tools, set to protect those conducting electronic payments, including consumers, merchants and banks.    

The sessions, held at the Visa office in New Cairo on November 19, 2012, commenced with a segment on the value of VisaNet.  VisaNet is the world's largest retail electronic payments processing network, handling an average of 150 million transactions every day. Underlying Visa's products is a robust set of processing services that are powered by VisaNet -- including core transaction processing, risk management and information-based services. These services can be tailored to individual countries or regions and serve the needs of financial institutions, governments, businesses, merchants and consumers around the globe. Every day, VisaNet connects up to 2.0 billion cards, millions of acceptance locations, 2.0 million ATMs and 14,900 financial institutions. 

"Visa continues to provide consumers, businesses and governments with a better form of payment," said Tarek Elhousseiny, General Manager for Visa North and Francophone Africa. "Since VisaNet's inception as one of the world's first electronic credit card authorization systems, Visa has invested valuable time and assets into improving, refining and expanding its global processing system. This investment ensures VisaNet stays ahead of growing demand for electronic payments, as more people use their cards for online transactions and soon, their mobile devices."

 VisaVue Online (VVO) includes an array of robust features and functions that allow banks to get to the information they need quickly in order to better manage their electronic payments business.

"Visa believes good business decisions come from better information," said Elhousseiny. "Visa's products offer tangible value to all players in the electronic payments process, and by providing the exact tools needed to help our banking community, Visa ensures successful business results for our partners.  VisaVue Online is the latest tool to be introduced to Egyptian banks to help them stay informed on the way their clients prefer to pay and be paid."

The final session of the day covered Visa's multiple defense layers which prevent security breaches, combat fraud and render compromised card data unusable. "Visa deploys cutting-edge technology and continually develops new solutions that enhance security and help reduce the value of stolen data," added Elhousseiny.  "Visa's efforts have kept fraud rates steady near historic lows, enabling cardholders to use Visa with confidence. In fact, with technological innovations and advances in risk management, fraud rates have declined by more than two-thirds in the past two decades."   

Visa works to foster industry engagement and accountability around security. Fraud impacts all participants within the payment system. Cardholders, merchants, law enforcement and policymakers all have a vested interest in combating fraud. The long-term strength of the card payments industry demands increased cooperation among all stakeholders. Visa works to raise awareness to consumers about the nature of security threats and how to protect themselves. Further, Visa conducts educational outreach to merchants and provides them the information and tools they need to prevent fraudulent transactions in their places of business. Visa also conducts law enforcement educational seminars to better coordinate crime-fighting efforts.

More Information More information is available at http://corporate.visa.com

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About Visa
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.. Corporate Backgrounder

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TRACCS Egypt
Rowaidah Bibers
Tel: (+202) 33046860
Fax: (+202) 33031219
Email: rowaidah.bibers@traccs.net

© Press Release 2012