Katanox secures PSD2 licence to offer regulated payment services

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 are paying, on average, 2.5-3% per VCC transaction.

The B2B payments alternative to VCCs are direct bank payouts for security, lower transaction fees for all, and ownership of distribution.

“The granting of this licence is an enormous next step in our one platform approach to provide accommodation buyers and sellers the most efficient and cost-effective products to distribute and transact properties and rooms,” said Paul Beukers, co-founder of Katanox.

“This is simply the beginning as we will expand our payments offerings into more markets and build more products both horizontally and vertically to deliver unprecedented opportunities to the hospitality industry.”