SINGAPORE, 4 JUNE 2015: MetGlobal, a major global travel company, has partnered with eNett International to use Virtual Account Numbers (VANs) for increased efficiency in its supplier payments.
Offering wholesale accommodation in over 200,000 hotels across 198 countries through its MetGlobal Sourcing and HotelsPro brands, meant a lot of time was spent processing payments and reconciling transactions manually. MetGlobal required a solution which could seamlessly integrate into its current booking systems, allowing it to make instant payments directly from within existing workflows, and automate reconciliation. After a thorough review of virtual payment options, MetGlobal selected eNett Virtual Account Numbers for its seamless integration and automated reconciliation and reporting capabilities.
A VAN is an automatically generated MasterCard number used for supplier payments. Because a unique number is used for each new booking or payment transaction, VANs are a secure way to pay or be paid, and are welcomed in each of the 35.9 million locations where MasterCard is accepted online.
eNett’s comprehensive API seamlessly integrated with MetGlobal’s existing systems, facilitating quick and easy implementation. Employees can now make multiple bookings and secure payments globally without having to leave their desktops, delivering significant time efficiencies, and lowering costs through automated reconciliation.
HotelsPro’s Managing Director, Mustafa Korkmaz, said, “We wanted a solution that could generate real benefits for our company, in terms of saving time and lowering costs. VANs have succeeded in doing just that, and the API made integration simple. The instant nature of VANs also means we are able to offer our customers dynamic rates and discounts, while not having to worry about reconciling transactions at the end of the month.”
“eNett provides excellent support when we need it. Besides which, the team love the reporting capabilities and the transparency and reliability of the transactions.”
Backed by the MasterCard guarantee, VANs provide protection against fraud and supplier default. Travel companies can also earn a rebate for every transaction1, creating real rewards through supplier payments.
eNett Managing Director and CEO, Anthony Hynes, said, “The estimated US$1.5 billion2 annual cost of manual reconciliation makes efficient payment automation critical. VANs address this directly, offering unrivalled integration to streamline and automate the payments process. We are pleased to be able to make supplier payments and reconciliation efficient and easy for MetGlobal.”
1. Terms and conditions apply.
2. eNett analysis of PhoCusWright Payments Unsettled Report 2013 and IATA.
Metglobal is a leading travel company utilizing technology to simplify the lives of consumers and professionals with an innovative portfolio of brands, services and products.
Metglobal operates travel search, planning, purchasing and review sites otel.com, tatil.com, Gezi.com, HotelStore.com.
Also within the Metglobal family are; HotelsPro (www.hotelspro.com), powering the global hospitality business as partners in providing accommodation and travel technology to over 20.000 travel agencies around the world, Metglobal DMC (www.metglobaldmc.com), providing travel related activities for travel professionals, and Metglobal Sourcing, adding to the groups inventory of directly contracted hotels on a daily basis.
As part of the group, Paytrek (www.paytrek.com) handles online payment services and payment security, Inspectroom (www.inspectroom.com) delivers analytics and insights to partner travel professionals.
With a team of over 500 young people, spread across offices in Istanbul, New York and Dubai, and by taking a human centric, agile, and meaningful approach to design and engineering, Metglobal removes the boundaries between people and technology, businesses and optimum efficiencies.
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.