Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
Sabre Holdings and Amadeus have announced the approval of their new joint product, Moneydirect. The venture will provide a solution to automatic payments in the travel industry.
Moneydirect has been put together by the two travel technology giants as a means of furthering ”better payment efficiencies, increased automation, and improved interoperability,” said a spokesperson for the operation.
The payment platform will focus on travel agencies, wholesalers, tour operators, central product providers or franchises, and technology providers.
It will merge the existing tools used by the travel industry into a multi-channel, GDS-independent, neutral system which will allow users to manage their payment needs regardless of booking channel, currency, payment type, and/or payment timing (before or after delivery of services).
”Moneydirect can help the industry significantly increase efficiencies and reduce reliance on manual processes,” said Amadeus senior vice president, corporate strategy, Philippe Chereque.
”The payment platform will have the flexibility to handle any type of payment, with a high level of security, and the ability to integrate existing front and back office products with these features.”
Moneydirect received European Commission approval on 12 September this year. The company will be headquartered in Ireland, with subsidiaries in the US and Australia. Moneydirect will leverage the current electronic payment system of the same name, which has been commercially available in Australia and New Zealand since 1998.
James Filsinger (pictured above), previous Sabre vice president, new business ventures, has been appointed CEO of Moneydirect, while Laurent Chartier (pictured right), former Amadeus director, corporate strategy, will be COO for the venture.