Getting paid with eNett VANs is as easy as accepting a credit card because VANs are accepted anywhere Mastercard is online, via the same processes and facilities.
Hotels and travel agencies can use VANs in several ways. From processing payments per booking, taking payments in multiple instalments, through to processing payments in bulk at set intervals. Whatever your preference, it can be accommodated with VANs.
Airlines can accept VANs via the same facilities used to accept customer and corporate cards, allowing for operational efficiencies of these approaches to be expanded to portions of the agency channel.
Fraud rates in online travel sales have been found to reach 1.5%, based on bespoke research completed for eNett International by Edgar, Dunn, and Company. Airline loss of revenue in direct distribution has also reached 1.2%, with 3.8% of bookings cancelled or rejected due to suspicion of fraud, according to a Phocuswright study conducted in partnership with IATA and ARC.
eNett VANs can greatly reduce fraud, and can achieve near-zero fraud distribution for airlines in particular. This can deliver major savings in both direct fraud losses as well as in indirect fraud costs related to minimisation and recovery.
When a travel agent acts as merchant of record and makes a payment to an airline with a VAN, the fraud checks happen with the agent before the airline is paid. A chargeback triggered on the end customer’s card, for example due to fraud, is then the travel agent’s responsibility.