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E-invoicing, SCF & E-procurement

eNett partners International Travel Partnership to expand eNett VANs use

Wednesday 7 September 2016 | 09:37 AM CET

eNett has partnered with International Travel Partnership (ITP), a networked alliance of independent Travel Management Companies (TMCs), to expand the use of eNett Virtual Account Numbers (VANs) across its global partner network of 59 TMCs.

With supplier payments a time consuming and often manual task, ITP sought a solution that would streamline the process and bring greater efficiency to its TMC partners. Minimising the risk of fraud was also a key objective, with thousands of transactions being carried out daily throughout the network.

An eNett VAN is a unique, automatically generated MasterCard number used for supplier payments. VANs integrate with accounts and booking platforms allowing agents to pay suppliers from within their booking flow and automating reconciliation - delivering significant cost and time efficiencies.

TMCs can also set payment parameters such as merchant type, enabling them to better enforce travel policies as well as guarding from misuse and fraud. VANs also return a rebate on transactions, adding an income stream to an already low cost of payment.

More: Link
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