eNett International, a joint venture with Travelport, has announced the global launch of vNett, a new solution that enables single-use MasterCard virtual account numbers to facilitate payments to suppliers.
vNett virtual cards are a secure and widely accepted way for IATA and non-IATA travel agencies to pay their travel suppliers. A 16-digit single-use MasterCard virtual account number is issued for a specific transaction, eliminating the possibility of misuse. The vNett solution reduces the risk arising from service default, streamlines the accounts payable function and delivers comprehensive web-based reporting in real-time. One of the unique features of the vNett platform is that virtual account numbers can be generated in all major currencies, eliminating the need to pay foreign transaction fees.
vNett can easily be accessed via a web portal at www.enett.com or web service (XML) and seamlessly integrates with global distribution systems (GDS), websites and other booking tools.
“Two years in development, our latest product innovation is now being deployed to the global travel industry,” said Rob Bishop, Executive Director of eNett International. “vNett is a safe and cost effective means for travel agencies to pay their suppliers whether they are around the corner of across the globe.”
Brian Staunton, Area Director EMEA for eNett International added; “Working with a number of travel agencies in Europe to integrate the vNett platform into their existing systems and processes has demonstrated the strength and flexibility of the virtual card platform. Our clients are already enjoying the benefits that the solution delivers including improved risk and performance management, as well as revenue enhancing and cost saving opportunities.
“Developed by eNett International as part of its joint venture with Travelport, we are delighted to be offering vNett as one of the innovative solutions we are introducing to travel agencies this year,’ commented Simon Nowroz, Travelport’s President and Managing Director, Asia Pacific. ‘vNett is an advanced payments solution that will improve our clients’ accounts payable processes and reporting on transactions,” Staunton concluded.