Visa moves PrivatBank’s services and operation to the cloud solution
Now the connection to the VisaNet electronic payment network will take place through the cloud
What happened? PrivatBank switches to the Visa Cloud Connect platform, and thus implements a new way to securely connect to VisaNet through the cloud.
Source. This is reported by the Visa press service.
Details. The company states that Visa has enabled secure connectivity from a public cloud-based processing environment in Central and Eastern Europe, Middle East and Africa (СЕМЕА), since the platform became available in late 2021.
At the same time, PrivatBank moved all its operations to the cloud as the war unfolded. The reason for such a move was to limit the bank's dependence on hardware located in different regions across Ukraine from being destroyed during the russian unprovoked invasion.
“The transfer of services to the cloud storage, as we see now, provides continuous access of customers to financial services (cards, digital banking, banking services, cash access, etc.) at any time and in general – the financial security of both our customers and all over the country. This is a matter of national security,” says Deputy Chairman of the Board of PrivatBank Mariusz Kaczmarek.
Background. The Visa Cloud Connect platform is a cloud-based infrastructure that allows client endpoints to connect from their respective cloud infrastructures to VisaNet for transaction processing. Visa Cloud Connect is designed to help client-banks and partners with existing cloud-based processing infrastructures connect to Visa, eliminating the dependency from telecommunications infrastructure.
This solution accepts and routes authorizations for all card and transaction types, including non-Visa transactions, to be routed by Visa to the appropriate card association or gateway for processing. In addition, Visa Cloud Connect is capable of sending and receiving batch files to and from VisaNet core processing systems.
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