Travel tech firm Amadeus has tapped Mastercard and virtual payments provider Ixaris to bring fintech to the travel agent community.
The integrated B2B Wallet Prepaid product will offer enhanced payment protection for travel agencies globally with more payment controls and added protection against supplier default.
Ixaris allows travel agents to add funds to their virtual payment cards.
Ixaris rolled out its first virtual prepaid card in 2003 in the European market.
"We are proud to be working with Amadeus to help develop its B2B wallet proposition and now to extend it to countries around the world with our prepaid virtual payments technology at its core. Travel, and in particular, online travel, is an industry with huge potential to benefit from the changes in the way we pay, receive and send money," said Alex Mifsud, CEO of Ixaris Group.
The Amadeus B2B Wallet solution will be launched in stages across Asia Pacific in 2017.
"With our global acceptance 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," said Hany Fam, MasterCard Enterprise Partnerships.
Celia Pereiro, head of travel payments said its initial launch in February in Europe has seen ‘overwhelming demand’ and is now used in 10 European countries.
