Amadeus is planning to launch a new payments-focused business, with a prepaid virtual card set to be its first offering.
The Madrid-based company plans to launch Outpayce as a wholly owned subsidiary to meet its goal of offering “frictionless travel payments” to clients.
Amadeus has applied and is awaiting approval for an eMoney license from the Bank of Spain, which will provide the ability to offer payment services, such as accepting and transferring funds and issuing debit cards in the European Economic Area (EEA). Approval.
Outpayce’s first service will be a pre-paid virtual card which could be launched in the third quarter of next year.
Besides its own offerings, Outpayce will work to develop an integrated payment ecosystem through which travel companies can connect to a variety of fintech providers through open APIs.
Outpayce expects to hire more payment experts and technology engineers in the next few years alongside the Amadeus employees and assets that will be transferred to the new company to support product development and business expansion. It will also “evaluate opportunities” to expand in additional geographies beyond the EEA.