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Outpayce obtains e-money license from Bank of Spain

By Gloria Methri

May 06, 2024

  • Amadeus
  • B2B Travel Payments
  • B2B Wallet
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Outpayce, Amadeus, E-Money Institution License, Bank of Spain, FinTech, SpainOutpayce, an Amadeus company delivering end-to-end travel payment experiences, has received an eMoney institution (EMI) license from the Bank of Spain. Outpayce can now provide regulated payment services in Spain, such as accepting customer funds, issuing pre-paid debit cards, and offering fund transfers on a payment account. In the future, the company can also passport its services across the European Union.

Outpayce intends to use these new capabilities to simplify travel payments in several areas. For example, it will soon be possible to use Outpayce-issued pre-paid virtual cards across travel agency booking systems and corporate self-booking tools to pay providers such as airlines and hotels. In addition, the virtual cards will enable business travellers to pay for on-trip expenses like taxis or meals with their digital wallets.

By issuing pre-paid debit cards, Outpayce will simplify the payment experience, ensuring closer integration with travel booking systems whilst offering 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. Not only do we have the regulatory greenlight to begin issuing cards, but we’re 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. This move complements Outpayce’s open payments platform, allowing any FinTech company to connect with Amadeus’ travel customers easily. With core banking in the cloud and with the eMoney license, we are one step closer to Outpayce’s vision to deliver a smooth and connected travel payments experience to travellers.”

Outpayce currently provides payer services to help travel sellers make B2B payments to airlines and hotels using modern methods like virtual cards with its B2B Wallet solution. In collaboration with third parties, it also offers services to merchants like airlines and travel sellers so they can accept the widest range of card and local payment methods through websites, mobile, call centres and physical touchpoints, such as check-in desks.

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