London/Amsterdam, 25 November 2025 – Travel Ledger continues to evolve, and we’re pleased to announce the launch of TL Pay Virtual Cards, a new payment capability designed specifically for B2B travel transactions. Powered by Adyen’s regulated issuing infrastructure and issued on the VISA network, TL Pay Virtual Cards give travel companies a smarter, more flexible way to pay suppliers while keeping all reconciliation data in one place.

A unified way to pay suppliers on and off the platform

With TL Pay Virtual Cards, travel companies can now pay suppliers not yet connected to Travel Ledger, as long as they accept card payments. This significantly expands the reach of TL Pay beyond our growing settlement network and allows finance teams to manage all B2B payments—bank or card, on-platform or off-platform—from a single account.

Cards are available in multiple currencies, helping reduce FX costs on international bookings, and can be issued at different interchange levels to maximise supplier acceptance.

Designed for automation and travel finance teams

Every TL Pay Virtual Card transaction is automatically reconciled to the underlying booking inside Travel Ledger. This removes the need for manual VCC reconciliation and allows enriched booking data to flow directly into back-office systems.

The cards also support just-in-time funding, which means funds are taken only when the supplier charges the card. This avoids upfront funding and helps protect cashflow—particularly valuable for businesses that manage advance bookings or operate with tight cash cycles.

Earn incentives starting from 1% cashback*

The program launches with 1% cashback* on all card spend, with rewards rising to 1.3% depending on card volume and the amount of settlement processed through Travel Ledger. It’s a meaningful opportunity for travel companies to turn payment activity into an additional revenue stream.

Available now, with more enhancements coming

TL Pay Virtual Cards can be issued today directly through the TL portal, with an API coming soon to allow booking engines and back-office systems to integrate card issuance and reconciliation into their workflows.

This marks the next step in Travel Ledger’s vision to deliver a unified B2B payment environment—bringing together bank settlement, real-time TL2TL payments, VISA virtual cards, and automated reconciliation under one roof.

*Depending on card interchange level.