American Express® vPayment

A virtual payment solution that uses customer specific reference fields, which simplifies the reconciliation and streamlines the procure to pay process of your company

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Need a simple and efficient way to pay suppliers quickly?

With American Express vPayment you can streamline your payment and reconciliation process and get greater control over your company’s spend. Assign a single-use Account number to a transaction, project, commodity or staff member. Set specific pre-authorisation amounts, date ranges, and transaction details with a virtual payment solution designed with your business in mind.

Maximize control
 

Determine payment setting for how the Virtual Account numbers are used while linking payments to expenses for automated reconciliation.

Streamline your P2P process
 

An automated report is periodically generated with all transactions processed. This can be seamlessly integrated into your existing accounts payable system reducing paperwork and saving time.

Simple to implement, use and control

Your entire vPayment programme can be managed online through the American Express @Work portal, giving you the flexibility to control your Accounts wherever you are.

vPayment

Enhanced data capture and easy reconciliation

You can thoroughly analyze transaction data using available reports in American Express @Work to help reduce costs, monitor compliance and further increase efficiency.

We capture buyer data (purchase order/invoice, line-item detail) linking to each settlement. Track, match, and allocate spend easily with true single-use virtual Cards and many user-defined fields. This will simplify the reconciliation.

Managers and procurement teams get improved account visibility, enabling effective management of your programme.

Enhanced data capture and easy reconsiliation

How does American Express® vPayment work?

1

Set your vPayment parameters

Choose from up to 20 customizable fields such as cost centre, job code, requisition number, event number and project code.

2

Create an Account Number

The American Express @ Work® platform enables you to generate a single-use or multi-use Virtual Account Number for the transaction.

3

Supplier processes the payment

The supplier charges your American Express® vPayment Account.

4

Verify payment by parameters

The virtual payment processing platform verifies the transaction. If all the parameters are met, the transaction is approved, and the payment is initiated.

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