Visa overcomes legacy issues with single API for 'intelligent authorisation'

Visa says the capability, which is being rolled out in Europe, eliminates the need for expensive rebuilds to overcome legacy problems as new payment methods drive higher volumes and data complexity.

VIA’s machine learning engine analyses transaction data in real-time to help optimise routing decisions based on network rules, industry programmes, and regional regulations. The product is also able to provide near real-time visibility of authorisation outcomes, and offers instant risk alerts, and a centralised portal complete with an analytics dashboard to streamline oversight, settlement, and regulatory compliance tools.

The card scheme has recruited major European processors, Comercia Global Payments, Elavon, Fiserv, UnicreE and Worldline, to help support the roll out across Europe.

Dan Parsons, head of acceptance sales at Visa Europe, says: “Commerce is moving faster than ever - across channels, markets and payment types - but too many transactions are still flowing through acquiring stacks built for a very different pace.

"When systems can’t keep up, the result is higher decline rates, increased costs and missed sales for merchants. Visa Intelligent Authorisation will help change that. It gives acquirers a fast path to modern, resilient processing, helping them build for what’s happening now, and what’s coming next.”