News

Travelex buys INETCO Insight transaction-management software

April 19, 2010

Travelex has purchased INETCO Insight to reduce payment settlement uncertainty and operational risk for its expanding payment processing environment, according to a news release issued today by INETCO Systems Ltd.

Travelex has been experiencing exponential growth in payment processing, with the addition of new services such as the Travelex Visa Money Transfer service launched last February in Australia. This service taps into Visa's global network, which connects more that 1.7 billion cards, and provides a secure way for consumers to send funds directly to recipients' Visa cards domestically and internationally.

Travelex can now proactively manage their growing payment processing environments; meet PCI compliance and industry security regulations around full data encryption; and establish realistic service level agreements with client banks and large merchant customers.

"Every time a call goes through to our helpdesk, we pay for it in resources and potential service level violations," said Mark Wingrave, head of direct currency conversion product development at Travelex. "INETCO Insight enables our IT and applications support teams to conduct inquiries into transaction history, identify anomalies and proactively resolve issues first hand, resulting in significantly quicker resolution times and a decreased number of customer complaint calls into the operations center."

INETCO Insight provides Travelex with the granular payment transaction data it needs to isolate the root cause of application, network and switch-performance issues. Graphing and reporting capabilities enable the IT and applications support team to improve capacity planning efforts and share snapshots with the senior management teams that explain transaction volumes during peak processing periods.