Magazine article American Banker

Visa Hires EDS for $100M Brazil Processing Job

Magazine article American Banker

Visa Hires EDS for $100M Brazil Processing Job

Article excerpt

Electronic Data Systems Corp. has won a $100 million contract from a Visa International affiliate to support merchant processing activities in Brazil.

Under the agreement, EDS' Brazilian subsidiary will provide the technology for customer service, back-office functions, merchant accounting, applications and reporting, distribution, and voice authorizations for all Visa payment services.

The multiyear deal, announced last week, underscores Visa International's resolve and flexibility in trying to keep its member banks in control of the acquiring side of the card business the services provided at the merchant end of transactions.

After much of the U.S. merchant-acquiring business had slipped away to such nonbank specialists as First Data Corp., Visa responded in May by opening Vital Processing Services, a 50-50 joint venture with Total System Services Inc.

On a slightly different tack, MasterCard International and National Data Corp. had shortly before formed Global Payment Systems, a merchant servicing company in which MasterCard retained only a minority stake.

In Brazil, Visa International joined forces with its member banks last November to form VisaNet do Brasil, which borrows its name from the VisaNet global technology infrastructure.

Incorporated formally as Companhia Brasileira de Meios de Pagamento, and with the status of "national group acquiring member," the Brazilian entity hopes to capture a significant share of a fast-growing market that is still at a relatively early stage of credit and debit card development. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.