Travel technology platform Katanox has secured a license from the U.K. Financial Conduct Authority to provide payment services in the U.K., the company announced.
The Katanox platform—which lets buyers and suppliers manage payments, reconciliation and contracting on a single platform—already had the license to provide services in the European Economic Area, providing automated bank payouts for corporate and leisure travel agencies’ workflows, according to the company.
“The U.K. is a strategic market for travel, and we’re delighted that this FCA license enables us to provide our hospitality partners in the region with desperately needed trusted and regulated financial infrastructure,” Katanox CCO Paul Beukers said in a statement.
Katanox in recent weeks announced a partnership with U.K.-based budget hotel chain Travelodge, providing it the opportunity to expand its reach with travel management companies.
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