New monopoly concerns retailers

New monopoly concerns retailers

first_imgSource = e-Travel Blackboard: G.A The practical details of a transition to payment platform eNett International, following the upcoming closure of rival Moneydirect, is not as concerning as the inevitable lack of competition the move will bring about, a number of retailers have said.One retailer told e-Travel Blackboard that Moneydirect’s closing is “taking competition out of the marketplace”, which may impact prices in the future, despite eNett’s promise to match Moneydirect’s existing fee structure for the first twelve months.“My concern is what happens after the twelve months,” the retailer said.Many retailers have relied on industry media for information for news on the issue, many –particularly those based regionally – having received no notification from either Moneydirect or eNett as to what is going on.However, many believe the transition to eNett will not be difficult.One source, who has “always” used Moneydirect but does have an account with eNett, said the retraining of staff will not likely be a concern.e-Travel Blackboard spoke with eNett International chief executive Anthony Hynes who advised that eNett will not only be working closely with Moneydirect but will also be doubling its resources to ensure the transition between the two companies will be smooth.“Our challenge over the next couple of months is to provide training and support to agencies and suppliers as they migrate,” Mr Hynes said.According to Mr Hynes, from a supplier side, it will practically be “business as usual” while agencies can expect a few changes in eNett’s offering compared to Moneydirect’s.While the interface will obviously be different, the reporting capabilities, a later settlement time (3.30pm in Australia and 4.30pm in New Zealand), and a close relationship with its banking partners to reduce risk will likely meet needs of the industry, the eNett boss said.Mr Hynes did admit that there is a delay in the settlement of funds as a risk precaution but that this would is liable to aid the industry given a recent spate of hoax bookings and should not interfere with normal booking procedures.last_img


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