Hospitality distribution and fintech platform, Katanox, has secured a PSD2 payment institution licence from the Dutch National Bank.

As a payments licence holder, Katanox Financial Technology offers regulated payments services across the European Economic Area (EEA).

This means that accommodation providers and accommodation buyers can book and transact via direct bank payouts all within one platform.

The entire process is streamlined within Katanox’s platform from distribution and booking to automated commission reconciliation and payouts. Katanox says that this means every penny within the transaction is accounted for.

Not only does this give hotels and accommodation buyers more efficient workflows, control and transparency. It also provides a better alternative to virtual credit cards.

VCCs, although offering some benefits, come with high fees and, says Katanox, are prone to errors. When all of these fees are combined, hotels are paying, on average, 2.5-3% per VCC transaction.

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.

Company Profile – free sample

Thank you!

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 form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The B2B payments alternative to VCCs are direct bank payouts. Katanox says that direct payments advantages, include simplicity, transaction security, lower transaction fees, ownership of distribution and trusted relationships between buyers and sellers.

“The granting of this licence is an enormous next step in our one platform approach to provide accommodation buyers and sellers the most efficient and cost-effective products to distribute and transact properties and rooms,” said Paul Beukers, Co-founder Katanox.

“This is simply the beginning as we will expand our payments offerings into more markets and build more products both horizontally and vertically to deliver unprecedented opportunities to the hospitality industry.”