vPayment

Streamline the payment and reconciliation process with specific controls for transactions.

Enhanced Spend Control And Less Administration

 

vPayment is a virtual solution that allows you to generate single-use account numbers that facilitate secure and efficient payment for goods and services.It provides you with granular control of your expenses, reduces paperwork and errors, enhances security and offers an opportunity for online spend analysis.

How it works

 

img

Virtual Account Number Creation

 

A virtual account number is assigned to each transaction and provided to the supplier. Your company can set a specific amount, usage date range, and enter key expense details that will be associated to this payment.

img

Payment Verification

 

The supplier charges the vPayment virtual account number and charges are verified against the pre-authorised controls set by your company.

img

Expense Reconciliation

 

Transaction data is matched to your company’s predefined expense details and consolidated into a single data file for reconciliation.

Features & Benefits

img

Transaction level Control and Authorisation

vPayment provides enhanced control of all spend down to exact amounts and dates, with your own unique references and buyer-specified references - making reconciliation problems and errors a thing of the past.

 

  • Help protect against out-of-policy spend and fraud with customised, pre-set purchasing controls.
  • Set and maintain spending limits by transaction by month, or by set temporary limits.
  • Implement spending limits at the corporate account or Cardmember level.
img

Improve Purchase Reconciliation

 

Online analysis and expense reporting tools offer managers and procurement teams account visibility, enabling effective management of your programme.

 

  • Compare real purchase data with contractual pricing by part number and unit price.
  • Cross reference discrepancies within an order to match to online order systems.
  • Monitor internal requirements for capital purchases.
  • Access required tax reporting detail.
img

Easily Accepted Globally

 

vPayment works with any supplier that accepts American Express Cards so you’ll be able to use it with a global network of suppliers. American Express also provides dedicated supplier enrollment teams to further aid in helping your key suppliers accept American Express Cards.

img

Increase Efficiency

 

 

vPayment helps save you time while it handles the transactions. By capturing accounting data for each transaction, it reduces manual data entry or data tracking, making reconciliation easier. vPayment also improves your accounting information for later reporting or analysis by integrating any additional supplier-provided data.