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Visa Europe has signed a deal to move its transaction network onto one operated by United Kingdom-based BT Group PLC, the two organizations said Monday. The five-year deal calls for Visa to "migrate its transaction network onto BT's 21CN Global network," the two firms say in a statement. The deal "will see Visa Europe improve operations through the use of a single supplier and a flexible network," the statement says. Visa Europe processed "transactions worth 1.3 trillion euros (US$2.06 trillion) during 2007," the statement says. Financial institutions in Europe have issued more than 350 million Visa-branded cards.

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