American Express Launches Virtual Cards for Expenses
American Express has announced the launch of American Express Go, a digital solution that is designed to help mid-sized and large companies handle business expenses for temporary workers, recruits, and employees without corporate cards. The solution features a virtual card that can be used online or over the phone, and has the option for the virtual numbers to be printed on companion plastic cards for in-person payments anywhere American Express is accepted.
American Express Go offers a mobile experience for freelancers and project-based workers to make business purchases with company funds, thereby removing the need for a reimbursement process. The solution is also designed to increase control and visibility for companies when it comes to purchases made by their extended workforce, whether it is for project supplies, business dinners, or travel expenses.
The solution can be added to an existing American Express Corporate payments programme. With the ability to generate virtual cards, businesses should be able to reduce the back-office hassle of reviewing expense forms and issuing cheques by increasing the ease and flexibility of providing access to new groups of individuals.
The offering is powered by American Express vPayment, a virtual payments solution that enables business clients to create specific-use virtual account numbers (VANs) with per-authorised spend controls and enhanced data capture. Once American Express Go is added to an existing American Express programme, mid-sized and large companies can:
- Quickly issue a Virtual Card – a specific-use, temporary account number with pre-authorised spend and timeframe limits – to the Amex Go mobile app or a companion reusable, plastic card for in-person purchases.
- Enable their employees and contingent workforce to make purchases on the go.
- Easily track and reconcile charges with important details like names, cost centres and accounting codes.