AirAsia adding virtual payments to agency booking platform
Monday, 30 Nov, 2015
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Low cost carrier AirAsia is rolling out a virtual payment option for agents offering lower processing fees and an extra layer of protection against fraud and supplier default.
The airline is adopting Virtual Account Numbers (VANs) through Australia based B2B travel payment processor eNett.
AirAsia will add VANs as a payment option in its own agent booking system, and allow VAN payments through the Travelport travel commerce platform.
It will initially be rolled out in Australia early next year for AirAsia X bookings and expanded to other brands during 2016.
VAN bookings automatically generate a one-time use MasterCard number for supplier payments and fixed payment parameters can be set such as a maximum booking value, the currency or date of validity.
AirAsia’s group head of sales, Rayner Teo Kheng Hock said VANs offer much lower transaction fees for agents compared to conventional credit card bookings.
"We’re committed to offering the most competitive fares in the market. Reducing the cost of booking means agents can use these savings to offer the lowest prices to their customers. It also means we can reduce the cost of processing payments and incentivise agents to book with us, keeping our cost base down and supporting our rapid expansion globally."
The system, integrated within the Travelport platform, allows agents to make payments with the desktop and benefit from more automated reconciliation.
"Through VANs, AirAsia gains access to a broader range of agents, while receiving immediate and guaranteed payment. For agents, paying by VANs reduces costs, while gaining significant efficiency gains through integration," said eNett CEO Anthony Hynes.
In an interview with Travelmole earlier this year, Hynes said inefficiencies associated with traditional agency payments costs the industry up to US$1.5 billion each year.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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