Outpayce, the travel payments business created by Amadeus, has secured an e-money license from the Bank of Spain, allowing it to provide regulated payment services in that country such as accepting customer funds, issuing pre-paid debit cards and offering transfers of funds on a payment account.
Amadeus established the separate payments business in November 2022 and applied to the Bank of Spain for the e-money license covering the European Economic Area. Under Europe’s passporting system, the company will in time be able to offer the services across the European Union.
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Outpayce said it intends to use the license to simplify payments and ensure closer integration with travel booking systems. CEO David Doctor called the news an important step on the company’s journey to simplify payments across the travel industry.
“Not only do we have the regulatory green light 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 startups. This move complements Outpayce’s open payments platform that will allow any FinTech company to easily connect with Amadeus’ travel customers.”