In a bid to bring financial technology (fintech) innovation to the travel industry, Amadeus has partnered two fintech companies to bring its B2B Wallet Prepaid product to market.
To do so, Amadeus is working with MasterCard to offer travel agencies payment acceptance and security, as well as better protection against supplier default when using B2B wallet. Amadeus is also collaborating with Ixaris to drive efficient virtual card management on B2B Wallet by enabling travel agents to easily create and add funds to their virtual payment cards.
The Amadeus B2B Wallet Solution was launched in some European markets in February, and will be gradually rolled out in select Asia Pacific markets in 2017 to bring travel agencies a virtual payments product with the option of either earning or saving cash when paying travel providers.
"Virtual card technology is the ideal application of Fintech innovation for the travel industry. By combining the strengths of Amadeus, MasterCard and Ixaris, we bring flexibility, efficiency and confidence to travel agent B2B payments," said Celia Pereiro, Head of Travel Payments, Amadeus.
"The Amadeus B2B Wallet gives travel agencies a host of reasons to leave cash, checks and other payment mechanisms behind, saving time and money. We look forward to further evolving our partnership with Amadeus — to shape the future of travel by enabling safe, simple and smart end-to-end experiences for businesses and consumers alike," Hany Fam, MasterCard Enterprise Partnerships commented.
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