GLOBAL DISTRIBUTION systems provider Travelport and UK-based PSP International have set up a joint venture company, eNett, to automate travel industry payments.
Initially focused on transactions between intermediaries and suppliers, eNett's boffins are also working on automated hotel bill-backs and other corporate travel solutions.
It will also enable 'non-traditional players', such as low-fare airlines, to offer tailored credit and settlement terms to the travel trade.
"The payment and settlement business is a multi-billion-dollar industry and we believe we can take out some of the inefficiencies that exist today," says Travelport president and chief executive Gordon Wilson. eNett payment solutions, he says, will focus on lower cost, reduced risk, and faster settlement of bills "across the broadest array of travel products".
Rob Bishop, who has been appointed executive director of the new company, adds: "The eNett joint venture helps travel customers simplify their businesses by providing payment solutions that support both air and non-air transactions. Other payment and settlement systems generally do one or the other, but not both."