eNett & Cornerstone Deliver Virtual Card Payment Solution
May 20, 2016
Singapore, 20 May 2016: Cornerstone Information Systems (CIS), a leading global technology and services provider for travel companies, announced the launch of Cornerstone AutoPay, a new solution that enables travel management companies and corporations to operationalise their use of virtual cards. Cornerstone has partnered with eNett International, a leading provider of dedicated B2B payment solutions, to offer a secure, streamlined payment method that eliminates the errors of manual processing and reconciliation of payments through automation.
Cornerstone AutoPay provides end-to-end integration directly from the workflow to trigger the creation of a unique Virtual Account Number (VAN) and to reconcile that within both the booking and the back office data. Cornerstone AutoPay will reduce the risk of fraud while providing protection from supplier default, lowering costs and generating efficiencies, enabling TMC’s to focus on customer service to grow their businesses. Backed by the MasterCard guarantee, eNett VANs generate unique numbers for every transaction and are available in over 30 currencies, facilitating safe and secure payments in 35.9 million locations, wherever a supplier accepts MasterCard online.
“We are committed to finding new, innovative products that deliver value to our clients,” states Mat Orrego, CEO of Cornerstone. “Virtual cards optimise financial processes and reduce friction to improve the bottom line. AutoPay offers increased efficiency, security, and control - and because transactions are treated the same way as standard cards, payment is instant. TMC’s can also better enforce travel policies with payments linked to corporate criteria and manage suppliers more effectively. We are proud to be developing and delivering the most comprehensive end-to-end solutions in the market, and optimising our client’s success.”
eNett’s Managing Director and CEO, Anthony Hynes, said, “eNett is dedicated to lowering the cost and complexity of supplier payments, making innovative and integrated technology accessible to companies of all sizes. This is why we have partnered with Cornerstone for Cornerstone AutoPay, giving travel management companies a new level of integration for truly seamless supplier payments. We look forward to working with Cornerstone to bring more innovations to address the inefficiencies of B2B travel payments.”
Through this partnership with eNett, Cornerstone clients will have access to the expanded capabilities and industry offerings of the combined organisations, delivering upon a consistent theme that is inherent to the Cornerstone brand: placing clients’ needs first, fostering innovation, and driving accelerated results through its global reach and cost-efficient solutions.
Cornerstone is an industry pioneer recognised for developing intelligent automation technology and advanced solutions for travelers, companies, and their clients. To learn more and schedule a live demo, visit ciswired.com or call 1 (888) 778-0897.
About Cornerstone Information Systems
Cornerstone™ Information Systems is a global technology and services provider that has a unique domain knowledge in the travel industry, from how travel is operationalized to how information is managed. With a foundation in automation, we design, build, and deliver technology for travel companies and corporate buyers. We help our partners manage their process and information, to drive better decision making. Cornerstone has a single focus on travel data from the management of the reservation to the creation and presentation of information. The result is higher quality customer service and more nimble operational responsiveness at a lower cost with fewer resources yielding higher profit. We are people-centric, service-focused, and technology driven.
Companies managing more than $25 billion in travel spend annually trust Cornerstone to help them proactively lower the costs of travel management and drive revenues through travel optimization. Founded in 1992, Cornerstone Information Systems is a privately held company headquartered in Bloomington, Indiana with customers in more than 50 countries. To learn more, visit ciswired.com
Unless indicated otherwise, all trademarks and service marks herein are trademarks of Cornerstone Information Systems Inc. or an affiliate thereof.
If you would like more information about this topic, or to arrange an interview with the executive team at Cornerstone, please contact Lauren Wolters at email@example.com">firstname.lastname@example.org or +1 (812) 727-2031.
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.