MANTOVA & SINGAPORE, 8 OCTOBER 2015: eNett International has partnered with Geo Travel Network, one of Italy’s largest travel agency networks, to expand the use of Virtual Account Numbers (VANs) to its 1500 agents.
With many of its agencies regularly reaching their credit card limits for supplier payments, Geo wanted to find an alternative that would give its network better control over their transactions. And with a combined turnover of €680 million, lowering the cost of payments for its agencies was a high priority. eNett offered a solution with VANs, which gives agencies control of payment parameters, and the ability to set alerts to ensure Pay-in accounts always have funds available.
An eNett VAN is a unique automatically generated MasterCard number used for supplier payments. Agents can set payment parameters such as amount, currency, date and merchant, providing greater control over transactions, and making it a more secure way to pay or be paid. VANs also integrate with leading GDS and booking tools allowing agents to pay suppliers from within their booking flow and automating reconciliation. Delivering significant efficiency gains, VANs lower the cost of payments as well as returning a rebate on every transaction1.
Geo Travel Network CFO, Mauro Cavallini, said, “We are always looking for innovative technology to provide solutions to the problems faced by our agencies. Credit card limits were a common issue across our network, with agencies missing out on deals and bookings because of them. eNett VANs provide a practical alternative, allowing agencies to better manage their supplier payments, as well as benefiting from lower cost, secure payments.”
eNett Managing Director and CEO, Anthony Hynes, said, “VANs have been designed to give payment control back to the agent through defined booking and payment parameters. What makes VANs unique is that they provide these benefits to agencies regardless of size. I am pleased to be partnering with Geo, and look forward to bringing the benefits of VANs to agencies across its network.”
1. eNett VANs terms and conditions apply
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.
About Geo Travel Network
Geo Travel Network is the Network of Costa Crociere and Alpitour World: a large group with more than 1,500 travel agencies, throughout Italy. Thanks to the close relationship and partnership with tour operators, Geo agencies can guarantee the best offers on the market at very favorable prices.
Customized travel packages of the major tour operators, cruises, study and wellness holidays, hotels, car hire, ferry or air ticket to any destination in the world, for business or leisure: in Geo agencies you can book any type of vacation, saving time and money.
Geo travel agents are highly qualified professionals, thanks to regular training courses on the product and on-site visits of resorts in major tourist destinations. Because nothing like the experience really teaches you to know a place.