MasterCard And eNett Extend Partnership

MasterCard and eNett International announced earlier this week that they had extended their international partnership, and plan to redefine travel payments globally.

According to a joint company statement, the two organizations have worked with travel agents, airlines, hotels and travel wholesalers to fine-tune their payments process, reduce cost and improve their cash-flow. eNett uses MasterCard Virtual Account Numbers (VANs) to enable automated reconciliation at point of sale for businesses.

eNett International Managing Director and CEO Anthony Hynes explained in a company release that as his company’s solution gains momentum in more markets around the world, they are delighted that MasterCard shares that ambition. Hynes said that the partnership hopes to “redefine payments across the entire travel industry value chain.”

MasterCard Enterprise Partnerships President Hany Fam said in a company statement that the eNett partnership leverages MasterCard’s respective assets and “unlocks value for all players in the travel industry.”

“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,” Fam said.

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