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Enhance Internal Controls with American Express Virtual Cards

Anand Sasikumar
Posted by Anand Sasikumar on Apr 2, 2024 1:58:48 PM

What If You Could Issue Virtual Cards On Your Client’s Existing American Express Credit Line? 

Are your clients with American Express credit cards looking to enhance control and flexibility for their employee credit card expenses? Embracing virtual cards is the best solution. They provide a secure and customizable way to manage employee card spending while maximizing convenience and security. 

In this article, we will explore the benefits of virtual cards and learn how to issue them using your existing American Express credit line.

What are Virtual Cards? 

A virtual card is a digital version of your physical credit card that comes with a 16-digit unique number linked to your credit line. This digital alternative offers better security for your business transactions, as merchants do not have access to your actual credit card number, minimizing the risk of fraud. Additionally, virtual cards enable you to customize spending limits and expiration dates, giving you more control over transactions and budgets. 

Why you should issue virtual cards on your existing Amex credit line? 

  • Leverage existing credit lines:  Your client already maintains a direct and secure American Express credit line, streamlining the process and bypassing potential credit inquiries. Also, there's no need to switch cards or endure another credit check, saving you time and hassle. 
  • Streamlined integration:  These virtual cards are directly integrated into the existing American Express accounts, so you can manage them alongside the physical cards and benefit from existing rewards programs and other account features. 
  • Enhanced Security: Each virtual card has a unique number and can be set with specific spending limits and expiration dates. This adds an extra layer of protection, as the generated numbers are only valid for a single use, making it impossible for unauthorized access to misuse your card information. 

What are the benefits of using a virtual card for clients? 

  •  Streamline managing expenses: Virtual cards can help simplify employee expense reporting by instantly capturing spending data and reducing manual entries and errors. 
  • Enhanced control and visibility: Your clients get visibility into real-time employee spending. They can also set spending limits and expiration dates for each virtual card, making it easier to control and budget. 
  • Enhanced security: Virtual cards offer better security compared to physical cards, reducing the risk of losing it or having it stolen. 
  • Keep your rewards: Retain all benefits, rewards, and perks associated with your Amex credit card. When you use a virtual card, you can enjoy all the card benefits while the reward points accumulate in the parent card. 

What are the benefits of using a virtual card for accountants? 

  • Tailored to your needs: Virtual cards offer versatility and flexibility, allowing you to create separate cards for different purposes. For example, you can create virtual cards with specific controls, like restricting card usage to purchases from a specific vendor of your choice with a limit of $150.  
  • Freedom from chasing clients: There is no need to pursue clients for their credit card information or wait for them to give you their sensitive card information when making purchases.  
  • Increased Efficiency: Virtual cards can streamline your client's card and expense management process, leading to less time spent on manual work and freeing you up to focus on other higher-value tasks. 
  • Improved Client Satisfaction: Offering a solution that simplifies and enhances your client's expense management can boost their satisfaction and loyalty. 

How to issue virtual cards based on a client's existing Amex cards 

If you're an American Express credit card holder, issuing virtual cards is very simple. You can issue them directly from Amex or use real-time expense management software that integrates directly with Amex. 

Expense management software that integrates directly with American Express makes employee credit card expense management super simple. You can issue unlimited virtual cards to your employees on your client’s American Express credit line with custom controls like spending limits and expiration dates.  

Issuing virtual cards through apps offers another advantage: whenever your employees use the card, the app sends a text message requesting a picture of the receipt. The app then reads and accurately extracts information from the receipt, automatically matching it to the corresponding transaction.   

This streamlined process simplifies credit card reconciliation, improving your client's business operations by ensuring transparency in employee spending, reducing fraud risks, ensuring compliance, and providing superior financial control. 

Supercharge your American Express credit cards 

Virtual cards provide businesses numerous advantages while preserving the rewards associated with their current credit cards. Equipped with enhanced security features and customizable budget controls, virtual cards enable businesses to streamline transactions, mitigate fraud risks, and maintain financial oversight—all while retaining the convenience of conventional cards. 

Sponsored Content: This article is generously brought to you by one of our valued sponsors. Their support enables us to continue delivering expert insights and the latest industry trends to our dedicated community of accounting professionals.

Topics: Business Technology


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