Outpayce, Amadeus's fintech, receives Spanish e-money licence

Outpayce, Amadeus's fintech subsidiary, has been granted an e-money licence by the Bank of Spain. This allows the company to offer regulated payment services in Spain, including accepting customer funds, issuing prepaid debit cards, and transferring funds to a payment account. In due course, it is expected to extend these services across the European Union.

Launched last year to evolve Amadeus's travel payment business, Outpayce plans to use the e-money licence to issue prepaid virtual cards. These cards will streamline the purchase of travel services within booking systems and facilitate other regulated payment services. In the future, travel agents and corporate booking tools will be able to use those cards to pay for services from providers such as airlines and hotels.

Business travellers will also use the virtual cards as a digital wallet for on-trip expenses such as taxi fares or meals. By issuing these prepaid debit cards, Outpayce aims to simplify the payment process, provide closer integration with travel booking systems, and offer travel companies improved choices.

David Doctor, CEO of Outpayce, said, "Becoming a licensed entity is an important step in our journey to simplify payments across the travel industry." He stated that the company is "already building a modern FinTech stack natively in the Microsoft Azure cloud with plans to partner with an increased number of leading financial institutions and innovative start-ups."

Doctor emphasised that this development aligns with Outpayce's open payments platform, which allows any fintech company to easily connect with Amadeus's travel customers. "With core banking in the cloud and with the eMoney license, we are one step closer to delivering a smooth and connected travel payments experience for travellers," he elaborated.

Outpayce already offers payer services to assist travel sellers in making B2B payments to airlines and hotels using modern methods like virtual cards through its B2B Wallet solution. In addition, in collaboration with third parties, it provides services to merchants, enabling them to accept various cards and local payment methods via websites, mobile platforms, call centres, and physical touchpoints such as check-in desks. 

Outpayce's attainment of an e-money license from the Bank of Spain represents a notable achievement in its efforts to modernise payment solutions within the travel industry. With intentions to expand its regulated payment services throughout the European Union, Outpayce seeks to streamline payment processes, integrate more effectively with travel booking systems, and offer travellers and travel companies enhanced options. Through strategic collaborations and leveraging contemporary FinTech infrastructure, Outpayce is positioned to deliver a seamless and interconnected travel payments experience, fostering innovation and efficiency in the sector.