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Flight Centre Extends eNett Partnership with Virtual Account Numbers

Travel News Asia Videos Podcasts Latest Travel News Asia Thursday, 6 November 2014
 

Flight Centre, one of Australias largest retail travel companies with more than 2,700 stores in 11 countries, has expanded its partnership with eNett so that it can now use Virtual Account Numbers (VANs) for some of its international supplier payments.

Flight Centres agents will be able to make domestic and international payments with eNett VANs, from any of Flight Centres global locations.

A VAN is a unique 16-digit MasterCard number automatically generated against defined booking and payment parameters for each transaction, making it a highly secure way to pay or be paid.

Seamlessly integrated with the Travelport Travel Commerce Platform, VANs can be generated to make immediate supplier payments across 27 currencies, 15 with local settlement capabilities.

eNetts pay-in accounts allow agencies more control over rates and timings when managing their own foreign exchange. Local funding and settlement will reduce exposure to foreign exchange fluctuations and enable Flight Centre to generate VANs in multiple currencies without the cross border fees charged on each transaction.

eNett Managing Director and CEO, Anthony Hynes, said, We are pleased to be strengthening our relationship with Flight Centre and our shared desire to lower international payment costs. Our local settlement capabilities, which is one of the broadest in the industry, will provide Flight Centre the most cost-effective solution of managing international payments. The relationship of our two organisations with Travelport will also enhance connectivity in creating more efficiencies and integration for Flight Centre.

In addition to the broad currency and low-cost foreign exchange capability, VANs reduce risk from fraud and supplier default, and improve reconciliation. Agents can also earn rebates as soon as they start transacting.

eNett, Flight Centre, MasterCard

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