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After selling Prisma, Visa brings its own payment network to the country

In this regard, the Argentine subsidiary of Visa International (one of the shareholders, which continues its activities in Prisma as a minority investor with a consortium of banks) announced the introduction in the country of its own payment platform for processing all internal transactions that are carried out with their plastics.

This is a VisaNet network, a payment network that, according to yesterday’s company, allows using more than 3,300 million cards in the world in more than 53 million stores and 2.7 million ATMs in more than 200 countries and territories, since it is also able to process more 65,000 transaction messages per second. "

Prisma was sold at the request of the National Commission for the Protection of Competition, which condemned the abuse of dominant position by the firm. This would allow him to have an advantage over potential competitors and to set the level of commission at its discretion.

From now on, there is a “multiadquirencia” system, which deprives Prisma of exclusive rights to administer the Visa payment system. Mastercard cards were operated by First Data, another acquirer company. This is where Visa International begins to work with its own network VisaNet.

“In a multiple access environment, enterprises will be able to accept Visa products, including Prisma Medios de Pago and First Data, as a Visa payment service provider,” the company said in a statement yesterday.

In turn, Prisma (Advent International) recently included MasterCard in products that it can offer to businesses that are part of its network.

These are the first signs of greater competition, to which the CNDC seeks its decision on a prism.

“Argentina’s evolution towards a multicast environment and the launch of local network processing via VisaNet is an important milestone for Visa and the electronic payment ecosystem in the country,” said Eduardo Coello, Visa Regional President for Latin America and the regions. Caribbean.

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