MELBOURNE, 1 August 2014: eNett International - a joint venture between Travelport and PSP International offers an innovative payment solution called Virtual Account Numbers (VANs) to make supplier payments safer and faster, as well as automating reconciliation at the time of payment.
A VAN is an automatically generated 16-digit MasterCard number. A unique number is generated at every booking, making it a highly secure way to pay or be paid.
When Wind Jet collapsed two years ago, we helped a European Online Travel Agency recover over Ä1 million, which would not have been possible if a cash payment was made,î said Mr Hynes.
Under the MasterCard guarantee, VANs protect agencies from supplier default with no extra cost for this benefit.
VANs reduce risk, improve reconciliation and produce financial reward for agencies of all sizes.
About eNett International
eNett International is a global provider of payment solutions tailored to the travel industry. Majority owned by Travelport ñ a travel commerce marketplace providing distribution, technology, payment and other solutions ñ and PSP International, eNett uniquely connects the travel industry with payments expertise to offer an innovative payments platform that reduces risk, improves reconciliation and delivers financial, data and efficiency rewards.
eNett's core offering is a Virtual Account Number (VAN) payment solution that automatically generates unique MasterCard numbers used to facilitate global payments between travel agencies and travel providers. Its exclusive, long-term partnership with MasterCard provides access to the worldís fastest payments processing network and more than 35.9 million locations worldwide.