Travelport, PSP International Form Payment Solutions Joint Venture

Travelport has entered into a strategic relationship with PSP International to form a joint venture company to provide integrated payment solutions tailored specifically for the travel industry. The joint venture, in which Travelport holds a majority stake, was completed on June 24, 2009.

The joint venture will be branded “eNett, A Joint Venture with Travelport.” It leverages the existing successful payment and settlement capabilities already established by PSP International in the Pacific region with Travelport’s world-wide travel product distribution capabilities and significant airline, rail operator, hotel and car rental relationships.

The joint venture also leverages Travelport’s leading position with the on- and off-line travel agency community and its global brand in the sector. The two companies have enjoyed a strong commercial relationship since 2003.

The eNett suite of products will enable automated payments, settlement and reporting between travel agencies and travel product suppliers, supporting debit cards and other increasingly relevant alternative forms of payment which are not well supported today.

It will enable non traditional players in the travel industry, such as low cost carriers (LCCs), who desire to distribute their products through the travel trade, to be able to offer tailored credit and settlement terms.

eNett is also working on solutions for corporate travel such as automated hotel bill back generation that save travel management companies (TMCs) and the corporations they service, both time and money.