LONDON--(BUSINESS WIRE)--PSP International today launches its new name, Optal, as it begins a new chapter in its history as an international B2B payments specialist.
Optal founded eNett International in 2002, and in 2009, formed a joint venture with Travelport – a leading Travel Commerce Platform providing distribution, technology, payment and other solutions – to build eNett International into a leading provider of payments solutions for the global travel industry.
Announcing the new brand, Optal Managing Director, Rob Bishop, said, “We’re delighted to be launching a new brand that captures the essence of our business, people and capabilities. Optimising financial processes means reducing the complex to the critical, so that binary decisions can be made with confidence. The name Optal, reflects our capability of looking deeply at complex problems to deliver simple solutions and achieve optimal results for our clients.”
“The payments industry we operate in is such a dynamic and constantly changing environment. We are pleased that we have developed a new brand name, logo and identity system that better reflects our unique value proposition in the market,” Bishop added.
As a long-term strategic partner of MasterCard, Optal’s wholly owned subsidiary, Optal Financial Limited, which operates as an electronic money institution in the UK, has signed an agreement with eNett International to become the primary issuer of eNett’s core offering, MasterCard Virtual Account Numbers (VANs).
In addition, Optal has recently strengthened its board, appointing Andre Sekulic as Chairman and Leigh Clapham as a non-executive director.
Mr Sekulic is a former President of MasterCard Asia Pacific, Middle East and Africa. As well as the insight he brings to chairing the Optal Board, Mr Sekulic also chairs the ComGateway internet shopping platform and is a Director of DBS Bank.
Mr Clapham is a former Group Executive for MasterCard Europe, having previously also been Group Executive and General Manager of MasterCard Australia & New Zealand.
Optal is re-inventing how payment processes work across complex industries. By stripping payment processes of their customary inefficiency, we help companies boost profitability across a growing number of sectors around the world.
As a long-term strategic partner and a principal member of MasterCard, Optal Financial Limited issues and acquires MasterCard-branded payment products, driving its focus on developing and bringing to market game-changing payment solutions. Optal Financial Limited, a wholly owned subsidiary of Optal Limited is an authorised eMoney institution, regulated by the UK Financial Conduct Authority.
Optal holds a 23.5% interest in eNett International, a specialist global travel payments company, and is in the process of transitioning to become the exclusive issuer of Virtual Account Numbers to eNett International.
eNett International is a global provider of payment solutions uniquely tailored to the travel industry. Its core offering is a Virtual Account Number (VAN) payment solution that automatically generates single-use MasterCard numbers to facilitate payments across the MasterCard processing network, which has acceptance at more than 35.9 million locations worldwide. By using eNett VANs to make supplier payments, travel buyers and travel providers alike, are able to reduce their risk, improve reconciliation and generate financial, data and efficiency rewards. eNett is majority owned by Travelport which is traded on the New York Stock Exchange under the symbol “TVPT” and its capabilities are integrated into the Travelport Travel Commerce Platform which operates in over 170 countries today.