London, 1 APRIL 2015: Optal Financial Limited – one of Europe’s leading virtual card issuers – has today announced it is now the primary issuer of eNett Virtual Account Numbers (VANs), globally.
Formerly known as PSP International, Optal is a shareholder of eNett International, a leading provider of dedicated B2B travel payment solutions to the travel industry, alongside Travelport who owns a majority stake.
Optal’s commitment as eNett’s long-term and invested issuer ensures a high level of service and security, enabling eNett to focus on evolving product and service offerings for its customers within the travel industry and beyond. The move also supports eNett’s customer growth into new markets by facilitating even more local settlement currencies and lower cost foreign exchange.
Optal’s wholly owned subsidiary, Optal Financial Limited, is as an authorised eMoney institution regulated by the UK Financial Conduct Authority. Its expertise in innovative payment solutions will be invaluable in providing the flexibility and support needed to maintain eNett’s leadership position in B2B payments across the globe.
Optal Managing Director, Rob Bishop said, "We are delighted to further cement our relationship with eNett and our ongoing commitment to the company for the long-term. Both our companies are built with innovation as its foundation, and we are just at the beginning of what we can achieve in bringing evolutionary payment services and funding models to the marketplace.”
Utilised by hundreds of leading travel companies in 47 countries around the world, eNett VANs are automatically generated MasterCard numbers used to facilitate supplier payments. Backed by the MasterCard guarantee and generating unique numbers for each transaction, VANs can include payment parameters such as amount, currency, date and merchant, making VANs a more secure and easy way to pay or be paid.
eNett Managing Director and CEO, Anthony Hynes said, “I am very pleased to have Optal as an integral part of our operation. This relationship is fundamental to achieving our ambitious growth plans and supporting our customers with theirs. It gives us the agility and speed to stay ahead of changing industry demands, and set the benchmark for B2B payment services globally.”
N.B. This press release has been issued by Optal
Optal is re-inventing how payment processes work across complex industries. By stripping payment processes of their customary inefficiency, we help companies boost profitability across a growing number of sectors around the world.
As a long-term strategic partner and a principal member of MasterCard, Optal Financial Limited issues and acquires MasterCard-branded payment products, driving its focus on developing and bringing to market game-changing payment solutions. Optal Financial Limited, a wholly owned subsidiary of Optal Limited is an authorised eMoney institution, regulated by the UK Financial Conduct Authority.
Optal holds a 23.5% interest in eNett International, a specialist global travel payments company, and is its exclusive issuer of virtual credit cards.
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.