A new faster payment method coming to the ABTA scheme.

As part of our ongoing enhancement to the platform, Travel Ledger and ABTA are introducing the TL Pay account, provided by Nium.

This is a new online payment facility provided by Nium and fully integrated within the Travel Ledger platform.

** Please note that even if you are already live on Travel Ledger you have to apply for a TL Pay Account as this is a completely new payment facility ** 

Why are we introducing this new facility?

• Settlement is 50% quicker, including Agent refunds
• Funds received on the due date - No need to collect 1 week earlier
• EURO denominations can now be processed
• Settle with non-ABTA and other international suppliers

General Information about TL Pay

TL Pay is an e-money account integrated into the Travel Ledger platform (provided by Nium) which replaces the debit order method. TL Pay is a “single-purpose business account” and can ONLY be used to settle with other companies on Travel Ledger.

For Agents (Buyers) in the UK, usage of the TL Pay facility is going to be FREE to deposit and withdraw funds as well as paying Suppliers when TL Pay is used within the normal weekly payment cycle.

Initial setup of a TL Pay account however, will still carry a £ 90 one off charge.

Special Limited Time Offer (now extended to Jan 15th!)

As an ABTA member we have agreed to waive the £90 setup fee if the application is made before January 15th. (This is related to a fee our banking partner charges us which we will incur).

As there are no charges to hold a TL Pay account, we invite you to apply as soon as possible even if the actual cutover to this new methods will not happen for another few weeks.

Don't miss out on this exclusive offer and open your TL Pay account today!

TL Pay Sign Up Process

Detailed instructions will be displayed on the platform and in each page, but in general this is the process to sign up to Travel Ledger:

1. You must log into Travel Ledger as the Admin user (authorised to act on behalf of the company) and you will see “TL Pay” as a new option on the menu on the left 
   
   
2. The Admin user will be required to go through a Know Your Business (KYB) online form, where you need to provide information and documentation about the company for verification purposes.
   
   
3. After the Company information is submitted, for security reasons, the system will need to verify the identify of the Applicant and to do so it will provide a web link that should be opened from the mobile phone of the Applicant in order to take a picture of the user ID and a selfie
   
   
4. Once the company and the Applicant are successfully verified (it might take a few days or a week for such verification depending on the complexity of your company structure), you will need to deposit £1.00 into your TL Pay account to fully activate it.

For a more detailed guide and overview of the application process, please see the specific pages in our help system here.

*** Important NOTE *** We’re committed to ensuring the safety, security and compliance of our platform for all users. As part of our commitment to regulatory compliance, we require “Know Your Business” (KYB) information from you during the application process, in order to open your TL Pay account. KYB is a crucial step in our efforts to combat financial crime, prevent fraud and comply with the relevant Anti-Money Laundering (“AML”) regulations. Rest assured that the information you provide during the KYB process is kept confidential and used solely for verification and compliance purposes.

TL Pay - How your funds are protected

The TL Pay accounts are provided by Nium Fintech Limited (“Nium”) (company number 09039850) ("TL Pay Account”). Nium is authorised by the Financial Conduct Authority (FCA) in the UK under the Electronic Money Regulations 2011 with Firm Reference Number (FRN) 901024 to issue electronic money and provide payment services. More information about Nium’s licence can be found on the FCA register here. Travel Ledger Limited (“TL Pay”) provides technical services (including the user interface) and first line customer support to Nium to enable customers to use, access and manage their TL Pay Account.

How does it work?

When customer’s load funds into their TL Pay Account, these funds go directly into a Nium owned client funds account, and Nium issues the equivalent value of electronic money (also known as e-money) to their TL Pay Account. E-money is electronically stored monetary value (cash). Nium protects the customer’s money through safeguarding, meaning when Nium receives the customer’s money, it will place it in a safeguarding account with a bank and it will stay in that account until the customer spends or withdraws it.

How is Nium different from a bank when it comes to protecting your money?

In terms of protection, a customer’s deposits with a bank, building society or credit union (“financial services firm”) are protected under the Financial Services Compensation Scheme (FSCS).  The FSCS is an independent fund that exists to protect eligible customers of financial service firm that have failed up to a certain limit (usually £85,000 for eligible customers or up to £170,000 for joint accounts).

Whereas, money held in with Nium in an e-money account are not protected under the FSCS. Instead, e-money institutions (like Nium) are required to ‘safeguard’ relevant funds using one of the methods allowed by the law – segregation (also called safeguarding) or under an insurance policy/guarantee, and there is no limit on the funds that will be protected.  As described above, Nium has chosen to safeguard your money.

What happens to your money if Nium go out of business? 

In the unlikely event that Nium goes out of business whilst it is in possession of your money, an insolvency practitioner (or someone similar) would be appointed to return your funds to you from the safeguarding account. This means you would get your money back, although some costs may be deducted by the insolvency practitioner (or someone similar) for distributing the money back to you.

Please also note that due to e-money institution insolvency (or similar) procedures, it may take longer (as compared to an FSCS claim) for your money to be returned to you.

For more information about using a non-bank payment service provider, you can visit the FCA website

TL Pay Transaction Process

Using TL Pay does NOT change the existing invoice approval processes in Travel Ledger, but monies owed will process via your TL Pay account instead of Direct Debit.

More details on the process can be found on our wiki at this link: https://help.travelledger.org/tl-pay-account#how-do-i-use-my-tl-pay-account

Important Links

When you apply for a TL Pay account, you will be presented with an addendum to your Travel Ledger T&Cs as well as Nium’s T&Cs, the e-money account provider operating the TL Pay account.

To allow you to review such terms in advance of starting the application process, here are links to each one.

• TL (Travel Ledger) Pay Terms and Conditions 

https://www.travelledger.org/media/gfgojigy/tl-pay-amendment_july2023.pdf

• NIUM Terms and Conditions

https://www.travelledger.org/media/gpdbzme2/travel-ledger_nium-uk_corporate-user_v1_jul2023.pdf

For any additional information please consult our online help system here