Travel Ledger, the leading provider of
B2B billing and settlement solutions provider Travel Ledger has revealed the launch of TL Pay Instant, a “cost-effective” alternative to credit cards for settling B2B travel transactions.
The firm has also announced that Glamour Srl, a consolidator and tour operator in Italy, is the first adopter of TL Pay Instant for their 1,000-strong distribution network.
The new real-time solution is designed specifically to offer B2B booking engines a cost-effective alternative to Cards.
Using the TL Pay Instant API, a supplier can collect from trade partners in real-time, as part of the booking flow, bypassing the use of virtual cards and access funds instantly while keeping the same level of security and data rich capability.
Suppliers can now eliminate credit risk and access their funds immediately, instead of waiting for days for the funds to clear.
Once implemented, they can invite travel agents (buyers) within the Travel Ledger network to enable the service themselves.
Buyers can then settle payments in real-time with multiple suppliers from a single TL Pay account, all while maintaining full control of their funds until the final moment.
TL Pay Instant is exclusive to the Travel Ledger network and can only be used between partners who have both activated the facility.
The firm said this “ensures maximum security and significantly reduces the risk of fraud”.
“TL Pay Instant reduces the cost for regular business partners to settle with each other, while improving cash flow and reducing risk, all while maintaining maximum transparency throughout the entire transaction process,” said Roberto Da Re, CEO of Travel Ledger.
“Our focus on listening closely to our customers has enabled us to create a solution that eliminates the traditional barriers of cost and time, helping businesses across the UK and Europe optimise their operations.”
