technology service provider for Tour companies Amadeus have requested license for Bank of Spain To work as an electronic money institution and will make the transfer Your travel payments business on Outpayce, Contributing to its goal of simplifying it, the company stated in a statement compiled by Efe.
Payments are present at all stages of the journey, from booking online, or with a travel agent, to extra baggage at the airport or Check out from the hotel “Ensuring seamless, integrated, and even invisible payments is increasingly important to the travel experience,” the company noted.
The license will allow the company Providing organized services in Spain Later in the European Economic Area, Amadeus added in a statement on Monday. Companies that have an electronic money license can provide payment services and accept money from customersor issuing prepaid debit cards or offering to transfer money into a payment account, among other things.
Amadeus creates Outpayce
As part of this strategy, its existing payments business unit will become Outpayce, a A wholly owned subsidiary of Amadeus, whose assets and employees will be transferred to the new entity effective January 1, 2023, and which will be led by the current Executive Vice President of Payments, David Doctor.
Outpayce goal will enhance its current offer of payments, In addition to developing an integrated payment environment, travel companies can contact them to access Latest FinTech Innovations. As an Amadeus Group company, Outpayce will continue to support the payment needs of airlines, travel vendors and businesses, with the goal of optimizing the payment process for travelers and customers in B2B transactions.
The first regulated service they will offer, once the license is obtained, will be the issuance of prepaid virtual cards within a B2B Wallet solution, which travel agencies use to pay for travel service providers such as airlines and hotels.
Issuance of an Outpayce card along with a wide range of options from other partner issuers will provide travel agents with greater choices and a better payment experience. current platform Offers services from trusted partners such as Citi, Mastercard and PaypalAmadeus, among others, will continue to work to expand this network of partners.
Outpayce plans to invest in its growth by hiring more payment experts and technology engineers globally in the coming years to support it Product development plans and business expansion.
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