Visa launches world's largest transaction network

NEWS Credit card giant Visa has teamed up with computer firms Sun and Cisco to launch an online payment network they claim will be the largest in the world. The new system, Visa DirectExchange, will process all Visa debit and credit card transactions in the United States, as well as handling other forms of electronic payments. According to Visa the exchange will process up to $60m worth of payments an hour and more than 100 billion transactions a year from US issued Visa cards. The system will run on Sun enterprise servers and operating platforms, while internet equipment maker Cisco will provide the message and transaction routing technology.