Amadeus Creates New Payment Business Called Outpayce
Travel technology company Amadeus said it was making a "significant investment" by setting up a wholly-owned business called Outpayce, which will focus on “delivering a smooth and connected travel payment experience across the traveler journey and accelerating the pace of fintech innovation in travel.”
It has also applied to the Bank of Spain for an eMoney licence, so Outpayce can eventually provide regulated services in the European Economic Area, with the intention to offer card issuing and Open Banking capabilities in travel.
The new division will build on the work of Amadeus’ existing payments business with the launch of an open API-based platform that helps third-party payments and fintech companies connect quickly and easily to travel companies.
It predicts 80 percent of companies plan to either match or go beyond 2019 levels of investment in fintech innovation in the next 12 months.
Hopper recently secured an extra $96 Million investment from Capital One to expand its partnership.
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