Visa to offer faster authorizations.

Visa U.S.A. plans to announce today the availability of a faster type of credit card authorization service in 40 metropolitan areas starting in September 1993.

Using a new data communications technology called virtual private line, merchants can get authorizations of credit card transactions in about a quarter of the time required with standard, dial-up telephone connections, according to Visa officials.

Separately, Visa International said Wednesday it had completed the first phase of Network 2000, a two-year-old effort to build a new international communications network.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER