London, 26 February 2015: eNett International, a leading provider of dedicated B2B travel payment solutions, has now made it possible for South African and international travel agents, to make payments in South African Rand using eNett Virtual Account Numbers (VANs).
A VAN is an automatically generated MasterCard number used for supplier payments and can include payment parameters such as amount, currency, date and merchant, making it a more secure way to pay or be paid. Backed by the MasterCard guarantee and generating unique numbers for each transaction, eNett VANs also reduce the risk of fraud and maximise protection against supplier default. Agents can also earn a rebate from the first transaction1.
This currency extension means agents of all sizes can pay into a ZAR account, and make payments to South African suppliers in ZAR. Local agents will be connected to any travel supplier on the MasterCard online network. eNett’s customers will gain access to even more suppliers in South Africa now that they have a quick and easy method for paying them. These process efficiencies will simplify payments and lower costs for all agents.
eNett Managing Director and CEO, Anthony Hynes said, “The South African tourist industry, worth around $5.7 billion, is growing faster than the global average with over 9.6 million overseas visitors2. Given this growth, eNett VANs will play a critical role in eliminating the pain points of making international payments to South African suppliers, as well as bringing the benefits of virtual payments to the domestic agents.”
“We’re excited that this latest development will enable even more travel companies to enjoy the lower costs and increased security offered by our innovative payment platform.”
Learn more about eNett VANs at www.enett.com
1. Terms and conditions apply
2. Statistics SA, 2013
About eNett International
eNett International simplifies the complexities of payments by connecting travel industry specialism with payments expertise.
We pioneer innovative B2B payment solutions that reduce risk and facilitate even more travel content, at a lower cost. Easily integrated into existing travel booking workflows, our payment solutions deliver financial, data and efficiency rewards for travel agents and industry suppliers.
Our secure Virtual Account Numbers (VANs) enable travel agencies of all sizes to automatically generate a unique MasterCard number and pay their suppliers from directly within their booking flow. And our exclusive, long-term partnership with MasterCard provides access to the world’s fastest payments processing network and 35.9 million payment locations worldwide, wherever a supplier accepts MasterCard online.
We are majority owned by Travelport, which is listed on the New York Stock Exchange, and our VANs are seamlessly integrated into its Travel Commerce Platform.
Further strengthened by our global banking services partner and shareholder Optal, eNett is building a reputation for trusted and practical B2B payment solutions for the travel industry and beyond.