eNett International, a provider of dedicated B2B
travel payment solutions, and Cornerstone Information Systems, one
of the world’s largest privately held travel technology companies,
have partnered to develop a direct hotel billing payment solution
for Travel Management Companies (TMCs).
Together, eNett and Cornerstone are now offering
TMCs access to Virtual Account Numbers (VANs) via a new integrated
hotel direct billing solution that automatically relays payment
instructions and data to the hotel.
The solution is available via the Travelport
Travel Commerce Platform, as well as other GDSs, and does not
require any change to existing back-end systems.
VANs are automatically generated MasterCard
numbers for supplier payments and can include payment parameters
such as amount, currency, date and merchant, making it a highly
secure way to pay or be paid.
“We developed eNett VANs specifically to
address the inefficiencies of travel payments, making innovative
and integrated technology accessible to companies of all sizes.
The rapid uptake of VANs globally has been driven by a need for
new payment solutions to meet evolving industry needs,” said eNett
Managing Director and CEO, Anthony Hynes. “We are pleased to be
partnering with Cornerstone to tailor the VANs payment solution to
enable integrated payment automation and reconciliation for TMCs—a
significant process change that will improve profitability.”
By using VANs, TMCs no longer have to use a
traveler’s personal or corporate credit card, saving processing
time while improving reconciliation, usage, and spend control.
VANs also help travel managers better service their corporate
clients, providing greater control over their payments by
automatically linking these payments to corporate policy and
eliminating unapproved charges. Real-time reconciliation connected
to Cornerstone’s expense reporting tool significantly cuts time
spent by the corporate traveler on laborious reporting processes.
TMCs of all sizes can easily access VANs without
the need for lengthy credit assessments, and there is no
requirement to change banking relationships and there are even
several low-cost FX options available across 27 currencies.
eNett customers can earn rebates for
transactions paid with VANs as soon as they start transacting.
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