Outpayce Receives EMI License from Bank of Spain

Outpayce, the travel payments division of the Spanish IT group Amadeus, has secured an Electronic Money Institution (EMI) licence from the Bank of Spain, allowing it to offer a range of regulated payment services. With this licence, the fintech company can now accept customer funds, issue prepaid debit cards, and facilitate money transfers between payment accounts.

The newly obtained EMI licence gives Outpayce the green light to expand its payment services across the European Union. The company plans to leverage this approval to launch a variety of financial solutions tailored to the travel industry. Among these services, Outpayce is set to issue prepaid virtual cards for use in corporate self-booking tools and travel agency booking systems, streamlining payments to travel providers like airlines and hotels.

David Doctor, CEO of Outpayce, indicated that the company is building a “modern fintech stack natively in the Microsoft Azure cloud,” hinting at future partnerships with a growing number of financial institutions and start-ups. This tech-forward approach aligns with Outpayce’s mission to offer innovative payment solutions to the travel sector.

Outpayce, which launched last year, specialises in providing payment infrastructure to travel merchants. The company’s platform is designed to support travel sellers in processing business-to-business (B2B) payments and accepting a wide array of card and local payment methods. The technology is compatible with various channels, including mobile apps, call centres, websites, and physical locations like airport check-in desks.

With the EMI licence, Outpayce is poised to strengthen its position in the European fintech landscape, offering travel-focused payment services that promise to enhance efficiency and convenience for its customers.