When card issuers first started using automated business rules software to counter debit and credit card fraud, the limits on that technology were quickly evident: Customers reported frustrating payment rejections on dream vacations or critical business trips. Visa works with its clients to improve customer experience by providing cutting-edge fraud risk tools and consulting services that make its strategies more effective. Through this approach, Visa enhances customer experience and minimizes invalid transaction declines.
The company's global network connects thousands of financial institutions with millions of merchants and cardholders every day. It has been a pioneer in cashless payments for more than 50 years. By using SAS® Analytics, Visa is supporting financial institutions to reduce fraud without upsetting customers with unnecessary payment rejections.
Whenever it processes a transaction, Visa analyzes up to 500 unique variables in real time to assess the risk of that transaction. Using vast data sets, including global fraud hot spots and transactional patterns, the company can more accurately assess whether you're buying escargot in Paris or someone who stole your credit card is.
"What that means is that if you are likely to travel we know it, and we tell your financial institution so you're not declined at the point of sale," says Nathan Falkenborg, head of Visa Performance Solutions for North Asia. "We also will assist your bank in developing the right strategies for using the Visa tools and scoring systems," he adds. Visa estimates that Big Data analytics works; state-of-the-art models and scoring systems have the potential to prevent an incremental $2 billion of fraudulent payment volume annually.
A globally recognized name, Visa facilitates electronic funds transfer through branded products that are issued by its thousands of financial institution partners. The company processed 64.9 billion transactions in 2014, and $4.7 trillion in purchases were made with Visa cards in the same year.
Visa has the computing capability to process 56,000 transaction messages per second, which is more than four times the actual peak transaction rate to date. Visa does not just process and compute-it is continually using analytics to share strategic and operational insights with its partner financial institutions and assist them in improving performance.
This business goal is supported by a robust data management system. Visa also assists its clients in improving performance by developing and delivering deep analytical insight.

Questions for Case
1. What challenges were Visa and the rest of the credit card industry facing?
2. How did Visa improve customer service while also improving concepts related to retention of fraud?
3. What is in-memory analytics, and why was it necessary?