VisaNet is an electronic payment processing system that is used to operate with e-commerce transactions. On average a transaction using VisaNet will take less than a second.
The merchant and consumer’s banks must be members of Visa for the system to process a transaction. When a transaction takes place, the merchant’s bank keeps and stores the transaction details and contacts the consumer’s bank through VisaNet. The consumer’s bank will either accept or decline this transaction. Once it has been accepted, VisaNet will transport a code securely to the merchant’s bank where it is stored in a file and awaits settlement. VisaNet is currently the largest system that does this.
VisaNet can support debit, prepaid credit, credit, mobile payments and transfers as well as running risk management applications in real time when processing a transaction. The system provides telecommunication and payment data processing on a global scale. VisaNet can provide a distinct service catered to the country that the organisation, consumer or government is in using multiple currency and language processing services.
VisaNet is owned by Visa Corporate and was one of the first companies to have electronic card authorisation systems.
Payment Processing Services by NOIRE
NOIRE provides industry leading online payment processing services and risk management solutions. Our payment solutions are built using the latest payment processing technology enabling businesses to “Plug In” and “Switch On” payment modules with ease if and when required.
As a leading Payment Service Provider, NOIRE provide everything, Internet Merchant Account, Payment Gateway and Payment Processing with all the leading cards issuers and alternate payment options. Combined with NOIRE’s industry leading fraud and risk management solutions, merchants can be confident managing their payments safely and securely from beginning to end with NOIRE.
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