Less time on paperwork. More time for growth.
The virtual payment solution that simplifies your payments process and gives you the flexibility to create virtual account numbers (VAN) as you need them.
American Express® vPayment™ uses VANs as a secure payment solution for each transaction. Program Administrators can set payment limits, usage date ranges and transaction details to help improve control and streamline reconciliation processes.
American Express vPaymentTM from American Express streamlines the payment and reconciliation process, with specific controls for each transaction.
The Challenge: When faced with the need to pay multiple suppliers on separate invoices with different details, Program Administrators struggled to find a solution to pay the invoices on time and efficiently, while receiving enough information to reconcile the payments.
The Solution: The client implemented American Express vPayment, which allowed them the flexibility to generate one-time VANs for each invoice as well as customize fields such as cost center and date ranges to help match the transactions to the invoices. Then, the Program Administrators sent the suppliers the VANs for payment for the approved amounts. Each payment was tied to a specific transaction and all fields had to match for the payment to be validated. The vPayment solution solved their supplier payment and reconciliation needs without needing to increase staff, which allowed them more time to focus on growth.
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