Visa rewards HSBC Bank Egypt for operational excellence

Visa awarded a Certificate for Operational Excellence to HSBC Bank Egypt for achieving the highest approval rate in Egypt for transactions processed through VisaNet in 2008. The representatives from both parties gathered at HSBC Bank Egypt headquarters in Maadi to celebrate the success.

The world`s leading payment brand Visa works with banks on solutions for operational excellence to ensure that their systems, processes and procedures are functioning with optimal effectiveness in order to guarantee the smooth flow of transactions through the system thereby allowing transactions to be completed successfully.

Visa recognises that the Service Quality of a bank is a very significant measurement. Inappropriate declines have their impact on the merchant and cardholder's perception of the card. For the merchant, declines waste time and, if another form of payment is not available, lead to loss of business opportunities.

"The relationship between issuers, merchants and cardholders has many components to it. However, the acceptance rates highly affect all three of them. Visa understands this matrix and strives to develop the best international network," said Tarek Elhousseiny, Visa General Manager, North and West Africa.