How values drive innovation and growth
May 24, 2017 at Paddington, London (invitation only)
eNett International was established to tackle the issue of complicated travel payments head-on. Combining decades of payment expertise with in-depth travel industry knowledge, we are leading the way in developing innovative business-to-business payment solutions that make payments simple, efficient and rewarding. The result? You spend less time on payments, and more time with your customers.
eNett International simplifies the complexities of payments by connecting travel industry specialism with payments expertise. They pioneer innovative B2B payment solutions that reduce risk and facilitate even more travel content, at a lower cost. Easily integrated into existing travel booking workflows, our payment solutions deliver financial, data and efficiency rewards for travel agents and industry suppliers.
eNett is majority owned by Travelport, which is listed on the New York Stock Exchange, and our VANs are seamlessly integrated into its Travel Commerce Platform. Further strengthened by our global banking services partner and shareholder Optal, eNett is building a reputation for trusted and practical B2B payment solutions for the travel industry and beyond.
Growing competition and tightening margins in the travel industry means travel companies need to achieve more with less. Industry challenges centre around controlling costs, driving growth and improving business performance.
Today’s travel payments landscape is:
- Complex: Multiple methods of payments exist, from traditional airline payments in IATA’s Billing Settlement Plan to Low Cost Carrier credit card and cash advance models, to hotel direct billing and electronic funds transfers (EFT). Streamlining payment processes when suppliers prefer and often mandate different methods is a challenge for agencies, especially when the back-end accounts payable systems don’t talk to all booking platforms. Add to that the high volume of cross border payments and the complexities that come with foreign exchange management, it’s no surprise that many of the agencies we speak to would benefit from a more simplified and streamlined method of payment.
- Inefficient: 40% of agencies process payments manually, costing the industry over $1.5B annually1. With already stretched margins, payment automation is key to producing reconciliation efficiencies. Without data matching between the booking and payment, reconciliation and reporting is a challenge, making customer and supplier negotiations even more difficult.
- Risky: Credit card fraud is the number one issue for 40% of the travel industry, followed by supplier default1.