BANGKOK, 11 July 2016: Using Fintech technology, Amadeus is partnering with MasterCard and Ixaris to streamline payments for travel agents through a solution tagged B2B Wallet.
The partnership with MasterCard will offer travel agencies payment acceptance and security, worldwide, as well as protection against supplier default when using B2B Wallet.
Amadeus’ solution will build on MasterCard’s vast global network to expand virtual B2B payments in travel, the company stated in a press statement.
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Amadeus is also partnering with Ixaris to drive virtual card management also on B2B Wallet.
With its innovative payments technology, Ixaris allows travel agents to create and add funds to their virtual payment cards.
Ixaris, having won the Cards International’s Prepaid Innovation Award two years in a row, has been a pioneer in payments since it launched the first virtual prepaid card in Europe in 2003.
“Virtual card technology is the ideal application of Fintech innovation for the travel industry,” remarked Celia Pereiro, Head of Travel Payments.
“By combining the strengths of Amadeus, MasterCard and Ixaris, we bring flexibility, efficiency and confidence to travel agent B2B payments. 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.”
The Amadeus B2B Wallet Solution 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.
Commented Hany Fam, MasterCard Enterprise Partnerships: “MasterCard has a history of successful, long-term partnerships across the entire travel eco-system. With our global acceptance, advanced security and automatic consolidation, 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.”
Most agents are members of the BSP (bank settlement plan) that offers a channel to settle payments from travel agencies to airlines. The scheme is run by IATA.
