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How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
How travel payments are transforming the industry
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How travel payments are transforming the industry

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Panel: …

Panel:

Jason Hancock - head of channel development, eNett International
Luis Yofe - senior business leader, Travel Payments Solutions, MasterCard Worldwide
Kevin May - editor and moderator, Tnooz
Gene Quinn - CEO and producer, Tnooz

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  • Payments Unsettled:Cost, Opportunity and Dsiruption in Travel’s Complex Payment LandscapeA ‘first-of-its-kind’ travel payment research program
  • BackgroundQuantitative travel industry survey run by PhocusWrightSurvey fielded between Nov 2012 & Jan 20131523 qualified respondentsComplemented by executive-level interviews across multiple segmentsThis study takes two major approaches to segmentation: Industry segment:Retailer – Travel Agencies, Travel Management Companies, Online Travel AgenciesSupplier – Airlines, Hotel and Lodging, Other SuppliersWholesalers / Tour OperatorsTravel Technology / Payment System ProvidersWhere do corporate travel managers/buyers fit in?What is DMO/CVB?Geographic Region: All major global regions are represented with sufficient sample for cross-segmentation: Asia, Australia/NZ, Eastern Europe, LATAM (incl. Caribbean), MEA, North America, Western Europe Note that “Global” firms are companies that operate in at least three regions
  • More than half of all respondents are relatively small, doing less than US$5 million in gross travel bookings Travel agencies tend to be smaller, while travel suppliers tend to be larger
  • Finance, accounting and procurement professionals represent 11% of all travel supplier and retailer/wholesaler respondents, and in some cases this group is segmented because of their more direct involvement in payment issues
  • Chart - Top Half - ConventionalThe payment landscape remains complex and fragmented, but traditional payment methods continue to dominate- Credit Cards and Cash remain prevalent ~85% acceptance- With Cheques, EFT and Debit Cards support by over 50% of respondentsAlthough the mix varies widely by region- Credit Cards dominate in North America- While EFT / online banking is more prevalent in Europe, Latin America and ANZ … WHY?- The rise of Asia and other emerging markets means that Cash still play a big role to playChart - Bottom Half – EmergingIn general emerging / alternative payment methods have limited awareness and reachMobile-specific payments solutions are barely measurable yetHowever, Virtual Cards are starting to gain traction, with 40% of travel retailers supporting or planing to support their useThese emerging payment methods will become increasingly relevant as we examine the key trends coming out of the researchQ: what are alternative online methods etc???
  • In the US, around 88% of payments from agencies to airlines are made with a credit card , and the figure is higher for individuals buying air travel direct online. Globally, credit cards are also the predominant means of booking accommodation through direct channels, accounting for 68% of direct online sales and 87% of direct offline sales. North America remains the largest credit card market for airlines, representing US$80 billion in sales, while BSP cash  is the most common payment method in other regions. Credit card hotel sales are highest in the US, UK and Denmark, while alternative payments such as EFT, cash and cheques are favoured in other European countries.  While credit cards continue to dominate the travel payments landscape, alternative payments methods are adding value to the credit card payment model. One of these is virtual cards, which are already being used  by two out of every five agencies. These offer all the payment protection and acceptance benefits of credit cards, while automating manual payments handling processes and streamlining reconciliation.
  • In the US, around 88% of payments from agencies to airlines are made with a credit card , and the figure is higher for individuals buying air travel direct online. Globally, credit cards are also the predominant means of booking accommodation through direct channels, accounting for 68% of direct online sales and 87% of direct offline sales. North America remains the largest credit card market for airlines, representing US$80 billion in sales, while BSP cash  is the most common payment method in other regions. Credit card hotel sales are highest in the US, UK and Denmark, while alternative payments such as EFT, cash and cheques are favoured in other European countries.  While credit cards continue to dominate the travel payments landscape, alternative payments methods are adding value to the credit card payment model. One of these is virtual cards, which are already being used  by two out of every five agencies. These offer all the payment protection and acceptance benefits of credit cards, while automating manual payments handling processes and streamlining reconciliation.
  • Unpaid commission is a problem for over 40% of agencies, many of whom use a settlement service at a cost of 10% to 15% to recover their hotel commissions. By making payments for net-commission rates at the time of booking, agencies can ultimately provide better dynamic rates to pass on to customers, while eliminating the workloads and costs associated with collecting commissions. As many as 74% of hotels now offer pre-paid booking options on their websites, and most expect solid growth in sales through this channel. Credit cards and virtual cards support increased online sales with in-built security, while virtual cards also simplify and speed up reconciliation for online payments and offer superior data capture.    Probably worth mentioning airlines in addition to hotels – the picture is quite different but we expect this to change over time also as agencies and airlines start to find alternatives to cut out the consolidators:A meaningful minority of agency air bookings are conducted directly with the airline – highest in North America and Asia (30%) and 21% in Western EuropeThe rise of the LCC model is accelerating change in the airline industry, with payment at the time of booking models prevailing Agree that we should add AirlineWhile credit cards and direct billing are the most common methods for this kind of payment, alternative payment methods such as virtual cards are making significant headway, given their ability to reduce manual payment processing.
  • Direct relationships with airlines:A meaningful minority of agency air bookings are conducted directly with the airline – highest in North America and Asia (30%) and 21% in Western Europe – WHAT ARE THEY MISSING OUT ON (paying too much for consolidators etc)??Direct sales on airline websites have been increasing by 2% year-on-year since 2010 (assisting with increasing small airline profit margins by reducing the cost of sale) – offline sales are falling by 1% year-on-year and IATA membership numbers are declining, creating expensive consolidator models across the industryWholesalers and OTAs are leading the trend with as much as a fifth of air bookings going outside the GDS and BSP systemThe rise of the LCC model is accelerating change in the airline industry with airlines no longer happy to pay consolidators and wanting faster cash flow. Direct models will reduce cost of sale by up to 90% and enable airlines to access the point of sale and directly influence this with more targeted incentive programs.Credit cards are the preferred method of choice but instead of alternative methods like virtual cards, agencies are still using customer cards or agency cards, further resulting in poor data and difficulty with marking-up customer ratesDirect relationships with hotels:Given fragmentation and accessibility of hotel content, direct channels account for more than half of all hotel bookingsThese are proving even more popular with the trend toward “payment at time of booking” methods which require distinctly different distribution and settlement processes.“Payment at time of booking” enables agencies to take advantage of dynamic (best) rates available at time of booking as well as the opportunity to pay net of commissionAs many as 75% of hotels now offer “payment at time of booking” options on their websites and most expect solid growth in sales through this channelCredit cards (70%) and direct billing (35%) are the most common payment methods for these kinds of bookingsDirect billing still requires significant manual processing so it’s not surprising that alternative payment methods such as virtual cards are making significant headway in this space
  • Increasing efficiency through GDS integration:- The trend towards reducing manual processes and speeding up the booking process is leading to tighter integration of payments into the booking flow, reducing handling times and solving inefficient reconciliation processes- TMCs are especially interested in process efficiency benefits of virtual cards: GDS integration, data and reporting, expense reconciliation etcIf you’re an eNett customer and you currently use Travelport Apollo or Galileo (Focalpoint & Smartpoint), you’re now able to integrate VANs into your GDS booking flow. This will speed up the processing time for each booking and eliminate the need to switch between screens, copying and pasting all your payment details over.We’ll even populate your booking information from the GDS back to the eNett Payments Platform for easy reconciliation.TALK ABOUT WHICH BOOKINGS THIS WILL BE MOST USEFUL FOR AND WHAT’S TO COME IN PHASE TWOWorking on a deeper integration with Travelport across all GDS’s….Other GDS’s to followWHAT TO LOOK FOR IN OTHER GDS’ INTEGRATIONSGalileo and Apollo customers can get this today by visiting www.enett.com/travelportgds
  • The travel industry is increasingly globalised, requiring travel agencies to conduct transactions in multiple currencies on a regular basisA vast majority (90%) of firms accept and issue payments in five or fewer currenciesLarger travel retailers (and especially wholesalers) are more likely to operate in multiple currencies, and maintain multiple foreign currency accounts in order to support thisHowever, many travel companies lack the infrastructure and skill sets required to manage foreign exchange transactions effectivelyMany use payment methods that fail to provide visibility of exchange rates and fees up-frontThe costs and risks associated with FX payments are driving the need for global payment platforms that are universally accepted, and which increase the simplicity and transparency of paymentsPayment solutions with multi-currency capabilities (such as eNett’s Virtual Card Platform) can deliver against this needHowever, the sheer cost of running multi-national, multi-currency accounting operations means that large companies may achieve cost savings by migrating to a single payment platform globally – Example: OTA’s who use virtual cards because of their multi-currency capabilities
  • The true cost of payments is a mystery for most organisation in the travel sector.Organisations tend to only look at merchant fees and airline surcharges without considering the cost of manually processing, reconciling and reporting on invoices and commissions across multiple platforms, not to mention high foreign exchange costs, delayed cashflow and the potential costs of fraud and supplier default.
  • Refer pg178 for graph details- Airlines report charging surcharges on a range of payment and booking methods - Payment by card, bookings via the GDS and even website bookings - Most hotels, by comparison, do not charge similar surcharges and have no plans to do so - More traditional agencies (more than half) add surcharges (likely presented as service fees), while far fewer OTAs charge fees - More than four in five corporate buyers report paying surcharges and fees - For just under half they are paying fees on more than 10% of their bookings - And one third of corporate travel buyers see more merchants adding fees and surcharges, a growing challenge for buyers already struggling to capture ancillary services and fees within the corporate and expense management program. They don’t like it!Despite surcharges for credit cards, MasterCard research shows that credit cards on average are 37% cheaper than alternative payment methodsMASTERCARD TO PROVIDE DETAILS FOR THIS SLIDE BASED ON THEIR OWN RESEARCH.
  • Invoice reconciliation, auditing, manual payment issuance and acceptance are the most resource-intensive / time consuming.- Lodging suppliers average the highest number of staff hours per company devoted to payment processes. - Airlines and travel agencies have the lowest – possibly due to automation, centralized control and outsourcing. - The typical agency spends five staff hours weekly reconciling supplier commissions. On an average consultant salary of US$30k or approx. $15 per hour, manual payment processing is costing agencies at least US$300 per week. An agency with $1M-$5M revenue will require one part time staff member to manage reconciliation, fraud, process chargebacks and related functions. For larger agencies, the costs can exceed US$6,000 per week – for those earning over $1B in revenue, on average it takes 16 staff 27hours a week to manage their payment processes. It’s not any better at the supplier end either. The average airline has 6 staff spending 23 hours each week and the average hotel has 17 staff members spending 18 hours each week.37% of TMCs use virtual cards because they provide superior data and reporting capabilities. This is true also for 21% of OTAs and 23% of agencies.
  • Fraud – a major concern for the industry:More travel companies cited credit card fraud (37%) as a priority concern than any other payment-related issueOnline fraud rates currently average 1.3% of website sales globally – but are higher for travel companies that sell more onlineHeavy online sellers – OTAs (46%), airlines – most concerned about fraud as direct online bookings grow Larger firms less concerned with fraud as will have fraud protection security and insurance coverUnsurprisingly, emerging market regions have a greater concernIncreasing globalisation and proliferating payment methods mean payment security is now more important than everNewer payment methods such as virtual cards eliminate fraud through single-use numbers aligned to specific booking criteriaSupplier Default:Last decade there were 96 insolvencies of European airlinesLast year, European Airlines were expected to post the largest loss of any region at $1.2BRecovering funds when suppliers default has proven to be challenging for many agencies. When Air Australia collapsed last year, Australian agents were only able to recover 21.88% from IATA, 5 months after the airline went under. Credit cards and newer payment methods are better equipped to manage such risks. When WindJet collapsed last year, eNett and MasterCard recovered over €1M for a European OTA within 3 monthsPCI Compliance:Unsurprisingly, larger organisations (over $100M in bookings) report compliance and emerging markets have the least compliance (less than 25%)Smaller organisations can protect themselves by partnering with a payment provider that is compliant with PCI standards
  • Unpaid hotel commissionUnpaid commission is a problem for over 40% of agencies10% of hotel commissions are lost of 20% of agenciesAgencies spend an average of 5 hours per week chasing commission, costing them around US$75 per week2/5 agencies use a settlement service at a cost of 10%-15% to recover their commissionsAs mentioned earlier, this could be eliminated through more direct relationships and the purchase of net-commission ratesWhile credit cards and direct billing are the most common methods for this kind of payment, alternative payment methods such as virtual cards are making significant headway, given their ability to reduce manual payment processingUnpaid agency bookings:A high percentage of suppliers and wholesalers have experiences some unpaid agency bookings, typically less than 1% of total bookingsEspecially prevalent in MEA, APAC, LATAM and North AmericaThese stats further justify the trend toward ‘payment at time of booking’It’s a false economy for agencies that believe they benefit from breakage – the costs have to be up somewhere, and ultimately it will affect your rate
  • On average, airlines get paid 17.5 days after the agency has paid IATAHotels offer 30 day payment termsSmaller organisations (requiring liquidity) are more concerned about the lag time between invoicing and issuance of B2B paymentsWHAT CAN AGENCIES AND SUPPLIERS DO TO MITIGATE THESE RISKS AND CAN WE MONETISE THESE DELAYS??
  • This is now an image, does this work better Gene?
  • Transcript

    • 1. Transforming travelpaymentsWebinar7 & 9 May, 2013
    • 2. KKevin MayEditor & ModeratorGene QuinnCEO & ProducerYour hosts
    • 3. KJason HancockHead of ChannelDevelopmenteNett InternationalYour panelistsLuis YofeSr. Business LeaderTravel PaymentsMasterCard
    • 4. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and ProprietaryTITLEsubtitleStandard PresentationName of Presenter4
    • 5. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary5AGENDAINTRODUCTION TO THE RESEARCH STUDYKEY TRENDSA CASE FOR VIRTUAL CARDSTHE TRUE COSTS OF PAYMENTSCONCLUSION
    • 6. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and ProprietaryRESEARCH INTRODUCTION6Jason HancockHead of Channel Development,eNett International
    • 7. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary7SURVEY SAMPLE REPRESENTATIVE OF THEGLOBAL TRAVEL INDUSTRYIndustry Segment Geographic RegionTOTAL SAMPLE = 1,523 QUALIFIED SURVEY RESPONDENTSSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 8. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary8COVERING A BROAD RANGE OF RESPONDENT SIZEDISTRIBUTION BY GROSS TRAVEL BOOKINGS IN 2012Source: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 9. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary9AND FROM A VARIETY OF INDUSTRY FUNCTIONSDISTRIBUTION OF RESPONDENTS BY FUNCTIONAL AREASource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 10. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and ProprietaryKEY TRENDS10
    • 11. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary11TAKING STOCK OF THE CURRENT TRAVELPAYMENTS LANDSCAPESUPPORTED PAYMENT METHODS – ALL RESPONDENTSSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 12. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary12KEY RESEARCH TRENDS Trend 1: Credit cards continue to reign supreme Trend 2: A shift towards full payment at time of booking (and dynamic content) Trend 3: An increase in direct relationships between retailers and suppliers Trend 4: Desire for increased payment automation Trend 5: The need to operate in an increasingly globalised market Trend 6: The rise of mobileHow well do conventional payment methods support these trends, and what role doemerging / alternative payments have to play in the future?
    • 13. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and ProprietaryA CASE FOR VIRTUAL CARDS13
    • 14. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary14TREND 1:CREDIT CARDS CONTINUE TO REIGN SUPREMEAirline Website Payment Methods Agency Payment MethodsU.S. AIRLINE PASSENGER REVENUE – PAYMENT METHOD BY CHANNELSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 15. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary15TREND 1:CREDIT CARDS CONTINUE TO REIGN SUPREMEHotel Website PaymentMethods(1)Hotel Direct Offline Channel PaymentMethods(2)GLOBAL HOTEL GROSS TRAVEL BOOKINGS – PAYMENT METHOD BY CHANNEL(1) May include both pre-paid bookings and reservation guarantees (post-pay)(2) Multi-selectSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 16. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary16TREND 2:PAYMENT AT TIME OF BOOKINGShare of Hotels offering pre-paid options on their websiteExpectations of future growthof pre-paid versus post-payMAJORITY OF HOTELIERS EXPECT PRE-PAYMENT METHOD TO INCREASESource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 17. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary17TREND 3:INCREASE IN DIRECT SUPPLIER RELATIONSHIPS
    • 18. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary18TREND 4:DESIRE FOR INCREASED PAYMENT AUTOMATIONVIRTUAL CARD CRITERIA MOST IMPORTANT TO TRAVEL COMPANIES40% of agencies believe virtual cards can increaseefficiency through GDS integrationSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 19. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary19TREND 4:DESIRE FOR INCREASED PAYMENT AUTOMATIONINTEGRATION OF ENETT VANS INTO THE GALILEO GDS (FOCALPOINT & SMARTPOINT)2. Request a VAN by clicking the eNetticon or entering the #VAN command in theterminal window3. VAN Request screen pops-up withbooking details pre-populated. Simplycheck the details and enter yourpassword to generate your VAN4. All booking andpayment details arewritten back into the GDS#VAN1. Make your booking in the GDS
    • 20. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary20TREND 5:OPERATING IN GLOBALISED MARKETSMANAGING CROSS-BORDER AND FOREIGN CURRENCY ISSUANCE & ACCEPTANCESource: PhocusWright’s Payment Unsettled
    • 21. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and ProprietaryTHE TRUE COSTS OF PAYMENTS21Luis YofeSenior Business Leader,Travel Payment Solutions,MasterCard Worldwide
    • 22. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary22TAKING A WIDER VIEW OF COSTS… Cost 1: The obvious surcharge cost Cost 2: Manual payments handling and reconciliation Cost 3: Ensuring that risks don’t become costs Cost 4: The cost of breakage and unpaid commissions Cost 5: Cutting the costs of payment delaysHow well do conventional and emerging / alternative payment methods comparewhen all these different types of costs are considered?
    • 23. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary23COST 1:THE OBVIOUS SURCHARGE COSTCHARGING SURCHARGES FOR MAKING BOOKINGS OR USING A PAYMENT METHODSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 24. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary(1) Gross Annual Travel Bookings(2) Based on and average travel consultant salary of US$15 per hourSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape24COST 2:MANUAL PAYMENTS HANDLING & RECONCILIATION40% of agencies typically settle through direct billingand manual payment processesSize of Travel Organisation(1) $1M-$25M $25M-$100M More than $1BStaffing 2 10 16Weekly Hours per Staff 21 24 27Estimated Weekly Cost (USD)(2) $630 $3,600 $6,480
    • 25. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary25COST 3:ENSURING RISKS DON’T BECOME COSTS39%Of agencies ratecredit card fraud amajor payment issue53%Choose virtual cardtechnology to reducerisk of fraud andsupplier default>50%Are not aware if theirpayment or travelsystems comply withthe Payment CardIndustry DataSecurity Standard(PCI DSS)Source: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 26. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary26COST 4:BREAKAGE & UNPAID COMMISSIONS43% of airlines, 50% ofhotels and 53% ofwholesalers haveexperienced unpaid agencybookings10% hotel commissionslost for 20% of agenciesSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 27. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary27COST 5:CUTTING THE COST OF PAYMENT DELAYS#2 concernLength of timebetween payment andinvoicing3 out of 4Say payment via cardsand EFT are settledwithin 2 days4 weeksTypical settlement timefor resellers payingsuppliersSource: PhocusWright’s Payment Unsettled – Cost, Opportunity and Disruption in Travel’s Complex Payment Landscape
    • 28. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and ProprietarySUMMARY28
    • 29. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and Proprietary29IN SUMMARY… The Travel payments landscape remains complex and fragmented, howevertraditional payment methods continue to dominate PhoCusWright’s research, Payment Unsettled, indicates the following trends A shift towards more direct supplier relationships, Increase in pre-payment, Globalisation Increased payment automation The rise of mobile To accommodate these changes, adoption of emerging payment methods willlikely to increase since they can provide a solution to some of the key issues The travel industry should take a wider view when considering the overall cost ofpayments - conventional or emerging - as these go well beyond the obvious
    • 30. Copyright © 2013 eNett International (Singapore) Pte Ltd. Confidential and ProprietaryTITLEsubtitleStandard PresentationName of Presenter30Transforming travelpayments…
    • 31. KQ & A
    • 32. KThank You!Replay and presentation from today’s webinar will beavailable at www.tnooz.comPlease send your questions to kevin@tnooz.com

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