Infotech Lead America: First Data Corporation, a provider of electronic commerce and payment processing solutions has made improvements to its existing VisionPLUS payment solution, which is a server based software solution used by financial institutions around the globe.
Financial institutions of all sizes will find that the VisionPLUS Flex solution is flexible, lowers the total cost of ownership and enables fast time to market. The solution uses a single platform and supports issuing and acquiring of credit, debit, prepaid, consumer and commercial cards for private label, American Express, JCB, MasterCard and Visa global brands, as well as consumer loans.
VisionPLUS Flex delivers an extensive range of payment services and value-added options such as multi-currency and multi-language capabilities. Financial institutions can easily configure its settings and customize the options within the product to suit their needs.
The financial transaction processing business is capital-intensive. The average annual revenue per employee is about $400,000. The industry is highly concentrated, with the top 50 companies accounting for about 85 percent of industry revenue.
The VisionPLUS Flex solution offers financial institutions with portfolios of up to 10 million accounts on file. It is a cost effective payment solution that can help institutions meet increasing mandates to process portfolios in-country. Since the solution is delivered with a distributed, server-based model, financial institutions that have smaller portfolios can also benefit from a lower total cost of ownership.
Being a server-based application, VisionPLUS Flex gets ready to use quickly. Once financial institutions have selected the capabilities they desire and customized the options, the solution is assembled with the appropriate hardware and software. Finally, a simple plug and installation verification by First Data gets it working.
The VisionPLUS Flex solution is supported by an international partner ecosystem. First Data’s partner program helps keep the VisionPLUSFlex solution relevant and flexible even as the marketplace constantly evolves with new and updated technology and continued investment in the product.
First Data offers solutions that make payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data’s vast product portfolio and expertise helps drive customer revenue and profitability.