EDS Brazil and Visanet announced the renewal of a multi-year, multi-million dollar contract under which EDS (NYSE: EDS) provides financial transaction processing for all Visa credit card transactions in Brazil. Full terms of the contract extension were not disclosed. Visanet processes more than US$12 billion each year in financial transactions, representing all Visa credit card transactions in Brazil, as well as debit transactions from Visa Electron, an alternative to payment by cash or check. EDS provides Visanet with business process outsourcing services and technology infrastructure. The renewed agreement extends a relationship between the two companies that began in 1996. In recent years Visanet has become the financial transaction processing leader in Brazil in both market share and in customer care. The company provides high quality and varied services to its merchant clients and associated banks. Approximately 650 EDS employees are assigned to work collaboratively with Visanet, combining EDS’ processing expertise with Visanet’s knowledge of the Brazilian billing and payment market. To support Visanet’s growth, EDS has consistently invested in improving the quality and increasing productivity of the operations developed to serve Visanet. For example, EDS migrated all Visanet processing to EDS’ new Service Management Center in Sao Benardo do Campo, which handles high volume transaction processing with state-of-the-art processing and telecommunications capabilities. Visanet is located in nearly 4000 Brazilian cities, with 600,000 associated stores and 42 branches throughout the country. Last year, the company had revenues of over US$10 billion, processing more than 450 million transactions. With 140,000 machines, Visanet runs the largest network of ATMs in Brazil and electronically processes 95 percent of its transactions. Visanet receives 400,000 calls daily at its central authorization center, and 40,000 calls at its customer assistance center. EDS, the leading global services company, provides strategy, implementation and hosting for clients managing the business and technology complexities of the digital economy. EDS brings together the world’s best technologies to address critical client business imperatives. It helps clients eliminate boundaries, collaborate in new ways, establish their customers’ trust and continuously seek improvement. EDS, with its management consulting subsidiary, A.T. Kearney, serves the world’s leading companies and governments in 55 countries. EDS reported revenues of $19.2 billion in 2000.