vPayment1
Streamline the payment and reconciliation process
with specific controls for transactions
Control and Reconciliation in One Payment Solution
vPayment is a virtual payment solution that assigns a Virtual Card to each transaction. Users are also able to set a specific
pre-authorization payment amount, date range, and transaction details to help control spending and facilitate reconciliation processes.
How vPayment Can Take Your Company to New Heights of Efficiency
vPayment from American Express streamlines the payment and reconciliation process, with specific controls for booking transactions.
How It Works
1. Virtual Account Number Creation
A virtual account number is assigned to each transaction and provided to the supplier. Your company can set a specific dollar amount, usage date range,and enter key expense details that will be associated to this payment.
2. Payment Verification
The supplier charges the vPayment virtual account number and charges are verified against the pre-authorized controls set by your company.
3. Expense Reconciliation
Transaction data is matched to your company’s predefined expense details and consolidated into a single data file for reconciliation.
Features & Benefits
Simplify reconciliation
- Automate expense management processes, save time, and simplify reconciliation by attaching accounting or reporting codes, receipts, or invoices to Virtual Card transactions.
- vPayment matches transaction data to your company’s predefined expense details and consolidates into a single data file for reconciliation.
Increase efficiency
Single-use virtual account numbers with user-defined controls can help improve the overall efficiency of the payment process by reducing time and money spent on manual payment processes.
Improve the traveler experience
- Set pre-authorization spend limit, usage dates, and key transaction details to help reduce errors and risk of fraud* exposure from manual payments. *vPayment can help reduce the risk of fraud with transaction-level controls which allow your company to set a specific date range and pre-authorization amount for payments.
- vPayment has the added security of using a unique Virtual Card number with transaction-level controls which enables your company to set a specific date range and amount for payments.
Integrate with your suppliers
vPayment can be processed using point of purchase equipment (by keying in the Virtual Card number), so for suppliers already accepting American Express® Cards there is no additional technology required
