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
vPayment is a virtual payment solution configured for the travel industry that assigns a single-use account number to each transaction. Users are also able to set a specific payment amount, date range, and transaction details to help control spend and facilitate reconciliation processes.
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.
The supplier charges the vPayment virtual account number and charges are verified against the pre-authorized controls set by your company.
Transaction data is matched to your company’s predefined expense details and consolidated into a single data file for reconciliation.
Explore how more sophisticated payment processes can help reduce time, waste, errors and fraud to gain a competitive advantage.