Travel technology platform Katanox has secured a license from the UK Financial Conduct Authority (FCA) to provide payment services in the UK, the company announced yesterday (2 July).
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The Katanox platform 每 which lets buyers and suppliers manage payments, reconciliation and contracting on a single platform 每 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 UK 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," said Katanox CCO Paul Beukers in a statement.
Katanox recently announced a partnership with UK-based budget hotel chain Travelodge, providing it the opportunity to expand its reach with travel management companies.