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E-invoicing, SCF & E-procurement

Travel companies pay 3 percent more due to hidden costs and charges - eNett

Thursday 19 May 2016 | 10:28 AM CET

eNett International, a provider of B2B payment solutions, has brought together a dedicated cost of payments online hub, in order to help travel companies find out what their true cost of payments are.

With the new solution, each individual element of the total cost of payments is outlined in detail, with an eBook, factsheets, opinion pieces and other content. 

According to eNett, many businesses are unaware that indirect or ‘hidden’ costs also need to be factored in to get a true cost of payments figure – and travel companies are paying more than they need to as a result.

Moreover, agencies could also be paying up to 3% more on their cross-border transactions, through hidden charges and mark-ups from their providers. Calculating the true cost of payments requires travel companies to include the risk of fraud and supplier default, and FX risks and charges representing indirect costs to the business. Added to this is paying on credit and bonding, which become opportunity costs when compared to alternatives.

More: Link
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