Ypsilon Partners with Enett to Offer Payment Security VANs
September 17, 2014
LONDON, 18 September 2014: Ypsilon.net AG, one of the worldís largest end-to-end IT solutions specialists for the travel industry, is integrating eNett Virtual Account Numbers (VANs) to provide secure supplier payments for online travel agencies.
eNett VANs are automatically generated 16-digit MasterCard numbers that agencies use to make supplier payments. A unique number is generated at every booking, making it a highly secure way to pay or be paid.
Our partnership with eNett provides our clients enhanced payment security, no matter in which country they are located,î said Ypsilon VP of Sales & Marketing, Patrick Coulomb.
VANs are now seamlessly integrated into the Ypsilon Internet Booking Engine resulting in fully automated, secure supplier payments and 100% data reconciliation.
eNett Managing Director and CEO, Anthony Hynes, said: Iím pleased that eNett is providing a leading payment solution for Ypsilonís clients, particularly when fraud and supplier default remain the top concerns of agencies globally.
The demand for VANs is driven by an industry need for increased payment security. VANs reduce risk by matching unique MasterCard numbers to specific bookings. In addition, payment parameters such as value, currency, date and merchant, provide control over how each VAN is used.î
VANs are accepted across MasterCardís network of 35.9 million locations worldwide, wherever a travel supplier accepts MasterCard. Under the MasterCard guarantee, VANs reduce agency risk from supplier default and fraud.
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.
About Ypsilon.net AG
Ypsilon.Net AG is a global technology provider for the travel industry (airlines, OTAs, consolidators and travel agencies). Ypsilon provides multi-content B2C / B2B booking engines, fare loading, ticketing automation, mid-office systems, profile management, packaging, hotel and car rental booking engines as well as low cost carrier content and multi-content XML API. Through its affiliate Ypsilon Payment Solutions, it offers PCI DSS, payment solutions, as well as a fraud prevention system that not only analyses and scores bookings based on complex rules and algorithms, but also provides full automation in all GDS and CRS.