Amadeus Taps Citibank as Partner for New Currency Exchange Tool for Travel Companies
Skift Take
Much of the travel industry uses currency pricing tools that haven't advanced much in a decade. The sector will welcome any new tools that can genuinely cut complexity, time, and costs during the ongoing revenue crisis. Enter Amadeus.
Amadeus launched on Wednesday a currency conversion module aimed at travel businesses, with Citibank being the first foreign exchange provider to take part.
"Being able to simplify local currency pricing solutions in the aviation sector has always been a key gap in the industry," said Flavio Figueiredo, global head of rates and currencies, corporate sales at Citibank.
Amadeus aims the tool, called FX Box, at airlines, large travel agencies, global hotel companies, and other travel companies that sell to many international consumers. Today, travel companies typically let third parties handle currency conversion, often via integrations through payment gateways. For every foreign transaction, a third
