vPayment

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

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Control and Reconciliation in One Payment Solution

vPayment is a virtual payment solution 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.

How vPayment Can Take Your Company to New Heights of Efficiency
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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

Enhance Control While Reducing Errors

Help control payments and prevent overcharges by setting pre-authorized payment amounts and transaction dates. This can reduce the risk of misuse by assigning a single use virtual account number to each transaction.

Increase Efficiency

vPayment provides a streamlined payment process that can mean less paperwork, reduced billing errors and easy invoice reconciliation.

Reduce Fraud Exposure

vPayment can help reduce the risk of fraud with transaction-level controls which allow your company to set a specific date range and amount for payments.

Integrate with Your Suppliers

vPayment can be processed using the same point–of-sale equipment as traditional credit cards, so for suppliers already accepting American Express® Cards there is no additional technology required.

vPayment in Action
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vPayment in Action

See how GTA was able to increase business across the globe while effectively managing the cost of processing payments.

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