eNett VANs are automatically generated 16-digit MasterCard numbers that agencies use to make supplier payments. A unique number is generated at every booking, making it a highly secure way to pay or be paid.
“Our partnership with eNett provides our clients enhanced payment security, no matter in which country they are located,” said Ypsilon VP of Sales & Marketing, Patrick Coulomb.
“VANs are now seamlessly integrated into the Ypsilon Internet Booking Engine resulting in fully automated, secure supplier payments and 100% data reconciliation.”
eNett Managing Director and CEO, Anthony Hynes, said: “I’m pleased that eNett is providing a leading payment solution for Ypsilon’s clients, particularly when fraud and supplier default remain the top concerns of agencies globally.”
“The demand for VANs is driven by an industry need for increased payment security. VANs reduce risk by matching unique MasterCard numbers to specific bookings. In addition, payment parameters such as value, currency, date and merchant, provide control over how each VAN is used.”
VANs are accepted across MasterCard’s network of 35.9 million locations worldwide, wherever a travel supplier accepts MasterCard. Under the MasterCard guarantee, VANs reduce agency risk from supplier default and fraud.