The new entity will include Amadeus’ existing payments activities, as part of the firm’s strategy to offer additional travel payments solutions.
Amadeus plans to shift its assets and employees to Outpayce on 1 January 2023.
Outpayce will further develop its current payments offering and will create an integrated payment ecosystem to help travel companies with new fintech tools, noted Amadeus.
Besides, Amadeus applied for an eMoney licence with the Bank of Spain to offer regulated payment services in the country.
The licence will allow the company to offer various payment services, including accepting funds from clients, issuing pre-paid debit cards or facilitating transfers of funds on a payment account.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
David Doctor will step down from his current position of Amadeus’ executive VP of payments to become the CEO of Outpayce from 1 January of next year.
Doctor said: “Payments are an integral part of the end-to-end travel experience.
“Our aim is to ensure a smooth, integrated and connected payments experience in travel, whether that’s paying with virtual cards in the B2B space, or a traveller choosing to pay in the currency of their choice with foreign exchange services.
“Through our application for an eMoney licence combined with our investment in talent and technology, we’re well placed to improve our current service to customers as well as expand the range of services, geographies, and customers we serve.”
Outpayce will recruit payment experts and technology engineers globally in the upcoming years to support expansion.
Earlier this month, Amadeus announced a partnership with Booking.com to consolidate the payment process between travel agencies and hotels.