Direct Exchange has replaced a legacy system of Visa access points with a new payment infrastructure based on internet technologies and simplified communications links.
In effect, we have completely re-designed the way financial institutions and merchants access Visa services and have created an extremely flexible payment platform, said John Partridge, CEO of Inovant, Visa’s technology organization responsible for global processing and technology development.
Instead of our members having to conform to our system, we are now flexible enough to conform to their needs, and as a result have drastically reduced implementation time and cost for new payment products and services.
Direct Exchange provides a delivery channel for US financial institutions and merchants to receive information on individual transactions, to speed the resolution of cardholder disputes and the throughput of transactions processing. In addition, financial institutions can use the platform to interact with Visa’s payment services over a single communications channel.
