Visa International has signed a five year contract worth €60 million with UK telco BT for the supply and implementation of a purpose built IP network to link its member banks in Central Europe, Middle East and Africa (CEMEA).
Visa says the new network will deliver transactions processing to 265 member banks in 52 countries across the region.
Wolfgang Heinrich, executive vice president Visa International Cemea, says: "IP technology will not only ensure that Visa can satisfy the need for increased volumes, but that our member banks receive considerable cost and performance benefits."
The contract is part of Visa's global strategic initiative, launched in 2000, to replace its existing legacy System Network Architecture (SNA) with IP. The phased migration programme for member banks in the CEMEA region is expected to be completed in autumn 2004.
BT says IP is now accepted as the industry standard and will provide significant improvements to Visa's regional network capabilities. The telco signed a deal with Visa EU last year for the implementation of an IP network across Western Europe.