Virtual card issuer Optal Financial has become the primary issuer of eNett Virtual Account Numbers (VANs) worldwide.
Formerly known as PSP International, Optal is a shareholder in B2B travel payments firm eNett International alongside Travelport which owns a majority stake.
Optal’s involvement enables eNett to focus on evolving product and service offerings for its customers within the travel industry and beyond.
The move also supports eNett’s customer growth into new markets by facilitating more local settlement currencies and lower cost foreign exchange.
Rob Bishop, managing director of Optal, said: “We are delighted to further cement our relationship with eNett and our ongoing commitment to the company for the long-term.
“Both our companies are built with innovation as its foundation, and we are just at the beginning of what we can achieve in bringing evolutionary payment services and funding models to the marketplace.”
Used by travel companies in 47 countries, eNett VANs are automatically generated MasterCard numbers used to facilitate supplier payments.
Anthony Hynes, managing director and chief executive of eNett, said: “I am very pleased to have Optal as an integral part of our operation. This relationship is fundamental to achieving our ambitious growth plans and supporting our customers with theirs.
“It gives us the agility and speed to stay ahead of changing industry demands, and set the benchmark for B2B payment services globally.”