MasterCard Extends Partnership with eNett
MasterCard and eNett International have decided to extend their international partnership for the coming years, and they now have a plan to redefine travel payments around the globe.
The companies have already started working with airlines, travel agents, hotels and travel wholesalers to improve the efficiency of their payments process, reduce their transaction costs and improve their cash flow. This could yield big profits and new business for the partnership in the near future. At this time, eNett uses Virtual Account Numbers (VANs) from MasterCard to automate reconciliation at point of sale for businesses.
Hany Fam, MasterCard Enterprise Partnerships President, said that the company’s partnership with eNett “unlocks value for all players in the travel industry.” He added, “This innovative payment solution powered by the speed and intelligence of MasterCard’s global network massively reduces friction and improves the bottom line of travel service providers.”
Anthony Hynes, eNett International Managing Director and CEO, said the company’s program is gaining momentum worldwide and MasterCard is enthusiastic about its progress. Hynes added the companies want to work together to “redefine payments across the entire travel industry value chain.”