Hotels and accommodation buyers can book and transact via direct bank payouts
Hospitality distribution and fintech platform Katanox has revealed it’s has secured a PSD2 payment institution licence from the Dutch National Bank.
As a payments licence holder, Katanox Financial Technology B.V., a company within the Katanox group, offers regulated payments services across the European Economic Area (EEA).
This move will mean accommodation providers and accommodation buyers can book and transact via direct bank payouts all within one platform.
The entire process is streamlined within Katanox’s platform from distribution and booking, to automated commission reconciliation and payouts.
It’s said to have more efficient workflows, control and transparency, as well as being a better alternative to virtual credit cards (VCCs).
Katanox’s payment series outlined that VCCs, although offer some benefits, can come with high fees and are prone to errors.
When all of these fees are combined, hotels…