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Updated the YouTube references that moved to System z channel
Today IBM held a Mainframe50 event in New York City and was joined by multiple customers highlighting how the IBM mainframe remains a core foundation of today’s global business infrastructure.
Visa discussed the impact of IBM mainframes to it's business. VisaNet, Visa's authorization platform, core processing runs on IBM mainframes using the z/TPF Operating System.
Jim McCarthy, Sr Vice President and Head of Innovation and Strategic Partnerships, took the stage ( start of Jim's presentation) and told a story how, in 1973, Visa and IBM partnered to implement a world premier credit card authorization system. The initial design accompanied with re-engineering and innovation is still in use today. VisaNet currently authorizes 90 billion transactions a year and has 20 years of no downtime in the peak holiday shopping season.
A video of the Engines of Progress series , "Visa - One of the largest electronic payments networks enabling commerce" was also shown that explores what Visa is doing today.
The importance and size of Visa is mentioned in the Forbes article "From Shopping To Space Travel, How The Mainframe Changed Our World"
Visa, for example, uses the mainframe to secure billions of credit and debit card payments every year. In fact, mainframes process about $7 trillion in Visa payments annually, roughly equal to the annual GDP of Japan, the world’s third largest economy. When taking into account that more than 20 percent of global consumer spend is still in cash and check, it becomes even more important to build on a foundation that will enable the continued migration to electronic forms of payment.
Join me in recognizing Visa as a premier company that continues to innovate and make IBM mainframes and the z/TPF operating system a better product for all it's users.
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