Event: 2018 Phocuswright Europe
Product: Amadeus B2B Wallet - Orchestration
Category: Established Company
HQ: Madrid, Spain
Principal(s): Luis Maroto, President & CEO; Celia Pereiro, Head of Payments Unit
Funding: Amadeus IT Group S.A. is a publicly listed company.
Product Description: 39% of travel agencies use payment cards to pay suppliers (Phocuswright, Payment Unsettled), and many travel agencies have up to seven different cards, each with different conditions. Amadeus B2B Wallet offers a number of cards in one solution, so that travel agencies can manage their B2B payments more efficiently.
We will present our Orchestration tool, which uses real-time data and machine learning to always select the best payment card for each transaction, every time.
Business Model: Amadeus puts travel companies in control of their payments strategy, helping them take payment from their customers, pay their suppliers, and optimize both. We apply global expertise and a network of trusted partnerships integrated into our smart payment Hub to provide travel companies and their customers with a seamless payments experience.
Competitors: We compete with business-to-business payment providers, specifically those who help travel agencies pay their suppliers.
Competitive Edge: Amadeus is the only travel-dedicated provider to offer a full suite of payment solutions to help travel companies get paid by their customers and pay their suppliers. Our B2B Wallet product offers travel agencies up to nine (and counting!) different payment methods with a single connection.
Market Opportunity: Globally, travel agencies pay €300B+ to suppliers each year. Payments innovators have only just begun to enter this huge B2B payments market; technologies like instant payment and blockchain promise to streamline and reduce the cost of cross-border B2B payments. Choosing which payment method to use for each payment will become more difficult as new B2B payment methods come to market.
Early Customers: Since launching Amadeus B2B Wallet - Orchestration in November 2017, we have 30+ customers, mainly online and leisure travel agencies.
