eNett enables travel agents to reduce payment risks
April 27, 2016
Singapore, 26 April: eNett International, a leading provider of dedicated B2B payment solutions, will be showcasing how Middle East agents can minimise the risks of payment fraud and supplier default through Virtual Account Numbers (VANs) at the Arabian Travel Market 2016.
A recent poll on payment concerns carried out by eNett found the risk of fraud (51%) remained the biggest concern amongst leading Middle East travel agents1. With traditional payment methods limited in the amount of protection they can provide, eNett will be demonstrating why an increasing number of travel companies are turning to eNett VANs to minimise the risk of fraud.
A VAN is an automatically generated MasterCard number used for supplier payments. Eliminating the need for a physical card, a new number can be generated for each transaction – minimising the risk of fraud. Pre-defined payment parameters give control back to travel agents, and protect against misuse. And unlike traditional payment options, sophisticated charge-back capabilities provide protection should a supplier default.
eNett Managing Director and CEO, Anthony Hynes said, “In a fast growing market such as the Middle East, risk of fraud shouldn’t be a barrier to expansion. VANs provide a solution to the payment concerns of agents, minimising the risk of fraud and supplier default. It’s no wonder we are seeing huge levels of interest in VANs, and the market continues to be a key priority for us.”
eNett VANs represent an opportunity for agencies to grow, while managing the costs and controlling the risks. Integration with leading booking and accounts platforms streamline payments processing and automate reconciliation. This frees up time and resources for travel companies to focus on new business and expansion.
1. Poll carried out at Travelport’s e-Volve Summit, October 2015
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.