AMERICAN EXPRESS COLLABORATES WITH VISA AND MASTERCARD TO PROVIDE REAL-TIME STREAMS THROUGH FYLE.
A novel collaboration in B2B payments has expanded the options for Fyle users, who can now utilize American Express virtual Cards for various transactions. Fyle, a platform dedicated to expense management through existing credit cards, has introduced a fresh integration with American Express. This integration enables U.S. Business and Corporate Card Members to effortlessly issue on-demand virtual Cards via the Fyle platform, featuring built-in controls and heightened security measures.
Fyle has actively engaged in the American Express Sync Commercial Partner Program to make this integration possible.
Yashwanth Madhusudhan, the Co-Founder & CEO of Fyle, expressed, “Teaming up with American Express allows our customers to access control, enhanced security, and cash flow management offered by an American Express virtual Card. Additionally, it facilitates the automation of receipt tracking, credit card reconciliation, and expense accounting through Fyle, enhancing the overall user experience and value for our customers.”
Through this integration, businesses with an American Express Business or Corporate Card gain the capability to issue unlimited virtual Cards linked to their existing physical cards via Fyle. The advantages of using virtual Cards include:
- Implement specific controls for each on-demand virtual Card, such as spending limits and expiration dates.
- Make supplier payments using virtual Cards and leverage the American Express billing cycle to manage business cash flow until the Card payment deadline.
- Receive real-time transaction data and notifications through text messages for enhanced visibility.
- Streamline receipt collection and expedite reconciliation processes with Fyle’s expense management platform.
The integration also enhances payment security by allowing employees, freelancers, and subcontractors to execute payments on behalf of the business without disclosing their physical Card details.
News Source: Techeconomy
Image Credits: Google Search Engine.
