What is American Express (AMEX) virtual pay?

31 Aug 2022 By PAYCEC

American Express (Amex) virtual pay is a payment solution that allows businesses to streamline their payment processes and reduce the risk of fraud.

Instead of a physical credit card, the system generates a virtual card for each transaction. The virtual card has a unique number and expiration date that provides an added layer of security, making it more difficult for fraudsters to access sensitive payment information.

The system aims to streamline the payment process, reduce administrative costs, and improve cash flow. A business must have an American Express corporate card and enroll in the program to use Amex virtual pay. Recipients don't need an American Express account to receive payments.

Amex virtual pay allows for domestic and international transactions and can be integrated with an existing payment system.

Does Amex give a virtual card number?

Yes, American Express (Amex) offers virtual card numbers to its customers. The virtual card number is a unique 16-digit number generated for each online transaction, which helps keep the actual card number secure.

This feature is available for select Amex cards and can be accessed through the Amex website or mobile app. To use a virtual card number, you can enter the provided number in the payment details section of an online merchant's checkout page.

How do I pay with American Express Virtual pay?

To pay with American Express Virtual Pay, follow these steps:

• Step 1: Download the app to begin using a company's American Express Go program.
• Step 2: Start using your virtual card immediately for online purchases.
• Step 3: Add your virtual card to your mobile wallet so you can pay on-the-go.
• Step 4: Use the app to track and monitor your company expenses and check your card balance.

Once your payment is processed, you will receive a confirmation email with the details of the transaction.

What is American Express vPayment?

American Express vPayment (virtual pay) is a virtual payment product that assigns a single-use or multi-use Virtual Account Number to each transaction.

For every transaction, American Express virtual payment (vPayment) employs Virtual Account Numbers as a safe payment method. Payment amounts, date ranges, and transaction data can be adjusted by program administrators to help with reconciliation operations and to increase control.

How does American Express vPayment work?

Set parameters

Choose from up to 20 customizable fields such as cost center, job code, requisition number, event number and project code.

Create Virtual Account Number

The American Express @ Work® platform enables you to generate a single-use or multi-use Virtual Account Number for the transaction.

Process payment

The supplier charges your American Express vPayment Account.

Verify payment

The virtual payment processing platform verifies the transaction. If all the parameters are met, the transaction is approved and the payment is initiated.

Read more:

• American Express (Amex) payment gateway
• Virtual Terminal Merchant Account