Amadeus, MasterCard to bring FinTech to travel sector

Travel industry technology provider Amadeus has teamed up with MasterCard and payments technology company Ixaris to bring FinTech innovations to the travel sector.

Amadeus recently launched a prepaid virtual wallet to allow travel agencies to make payments to providers using virtual cards. The B2B Wallet Prepaid service is designed to simplify the process of making provider payments while reducing risks of fraud.

The company has arranged to use the MasterCard payment network to enable global support for the service.

Ixaris is meanwhile providing its payments technology for the service to allow travel agencies to easily create and add funds to virtual payment cards.

Amadeus plans to roll out the B2B Wallet service to select Asia–Pacific markets throughout 2017.

“By combining the strengths of Amadeus, MasterCard and Ixaris, we bring flexibility, efficiency and confidence to travel agent B2B payments,” Amadeus head of travel payments Celia Pereiro said.

“Since we launched the product in some markets in February, we have seen overwhelming demand for it and today have customers in 10 European countries.”

Image courtesy of Danny Key under CC