vPayment | American Express Canada (2024)

Less time on paperwork. More time for growth.

The virtual payment solution that simplifies your payments process and gives you the flexibility to create virtual account numbers (VAN) as you need them.

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Automated payments and easy reconciliations are just the beginning

American Express® vPayment™ uses VANs as a secure payment solution for each transaction. Program Administrators can set payment limits, usage date ranges and transaction details to help improve control and streamline reconciliation processes.

How vPayment Can Take Your Company to New Heights of Efficiency

American Express vPaymentTMfrom American Express streamlines the payment and reconciliation process, with specific controls for each transaction.

Control meets flexibility with American Express vPayment

Gain control

Set spending parameters to help keep your spending within budget, and easily track, match, and allocate spend.

Reduce risk

Use multiple controls and verification features to help ensure compliance while dynamic VANs help reduce the risk of fraud.

Empower employees

Assign VANs to employees who do not have a company Card which help to eliminate cumbersome reimbursement processes.

How does American Express vPayment work?

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Set parameters

Choose a customizable set of user input fields for the transaction.

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Create VAN

The vPayment platform generates a single-use VAN for the transaction.

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Charge Account

The supplier charges your American Express vPayment account.

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Verify payment

The virtual payment processing platform verifies the transaction against set controls. If all parameters are met, the American Express vPayment platform approves the transaction and initiates payment.

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Case study:A Manufacturing Company Streamlines Their Supplier Payment Process

The Challenge:When faced with the need to pay multiple suppliers on separate invoices with different details, Program Administrators struggled to find a solution to pay the invoices on time and efficiently, while receiving enough information to reconcile the payments.

The Solution: The client implemented American Express vPayment, which allowed them the flexibility to generate one-time VANs for each invoice as well as customize fields such as cost center and date ranges to help match the transactions to the invoices. Then, the Program Administrators sent the suppliers the VANs for payment for the approved amounts. Each payment was tied to a specific transaction and all fields had to match for the payment to be validated. The vPayment solution solved their supplier payment and reconciliation needs without needing to increase staff, which allowed them more time to focus on growth.

Time-saving tools meets white-glove service

Help put time on your side with comprehensive digital account-management tools and world class customer service from American Express.

American Express @Work®

American Express @Work lets your Program Administrator (PA) manage all your company Card accounts from one convenient location.

  • Search accounts by Cardmember name, Card number, employee ID, cost center, payment status, and more.
  • Search and sort transactions by date range, Card type, Cardmember, account number, transaction status, and more.
  • Replace, transfer, suspend, un-suspend, or cancel Cards or groups of Cards.
  • Monitor spending and payments at the Card, Account, or company-wide level.
  • Generate Card reports and data files, customized reporting, and business travel reports.

American Express @Work Reconciliation

American Express @Work Reconciliation is a 24/7 tool that takes steps out of the reconciliation process.

  • Simplify accounting: transactions from your Corporate Purchasing Card flow automatically into @Work Reconciliation, so your team can systematically apply accounting codes.
  • Automate reconciliation and validation processes using preset accounting rules, so your team can view and reallocate any exceptions.
  • View and modify accounting information and rules, decreasing the time needed to edit journal entries after the cycle closes.
  • Automatically upload data into your ERP system, making the reconciliation process less cumbersome.

Digital Capabilities

Go paperless to keep all your account information in one secure and convenient location and easily generate reports and files.

  • Generate digital statements to securely share with your team to help create spending insights and guiding principles.
  • Create statements in the form of raw data files, spreadsheets, online statements, PDFs, or reports within your Online Services account.
  • Drive efficiencies with single processing through a consolidated statement

Expert Consultants & Service

  • American Express can help to develop a customized payments strategy for your business.
  • Professional and dedicated customer assistance is just a phone call away. So whether you have billing inquires, emergency replacement Card requests or need information or access to a Card benefit or service, we’re ready and able to provide the support you need.

Start your American Express vPayment application

Call 1-877-891-0821 and speak to a rep immediately. Or, fill out the form by clicking on the button below and a representative will contact you within 2 business days.

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Not an American Express Cardmember?

Sign up for an American Express Corporate Card program to open up a world of perks, tools and opportunities.

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Frequently Asked Questions

American Express vPayment is a virtual payment processing system that assigns a single-use or multi-use Virtual Account Numbers (VANs) to each transaction. Program Administrators can set payment amounts, date ranges and transaction details to help improve control and streamline payment reconciliation processes while also reducing paperwork, fraud risk, and billing errors.

After setting up your vPayment account, you and your Program Administrators can issue and distribute VANs as needs arise and set controls and parameters for each transaction. The platform automatically generates a single- or multi-use VANs. Because this number is a digital token and is not tied to any of your existing Corporate Card numbers, it can help reduce the risk of fraud. When the VAN is used to process a transaction, the system approves it if the transaction falls within all set parameters. The transactions will be reflected on your monthly statements.

vPayment is accepted at any merchant that accepts American Express. Additional set-up for the merchant is not required.

Find more ways to streamline business spend

Buyer Initiated Payments

Optimize your working capital and maintain control of your supplier payments.

Learn More

Corporate Purchasing Card

Consolidate multiple employee expenses and process them as one easy payment.

Learn More

vPayment | American Express Canada (2024)

FAQs

Does American Express approve instantly? ›

American Express gives instant approval on its credit cards, but only some of the time. Instant approval always is possible when applying for an American Express credit card online, though getting approved for an account immediately is never guaranteed.

What is Amex vPayment? ›

vPayment is a virtual payment solution that assigns a Virtual Card to each transaction. Users are also able to set a specific pre-authorization. payment amount, date range, and transaction details to help control spend and facilitate reconciliation processes.

Is American Express accepted in Canada? ›

American Express Cards are warmly accepted at thousands of Merchants across Canada. Enjoy all the benefits, convenience and security of an American Express® Card - with the added bonus of earning points for travel when you use your Card.

How to redeem cash back American Express Canada? ›

How to Redeem American Express Cash Back Rewards. To redeem Reward Dollars: Log into your American Express account and click “Use Reward Dollars.” Enter the amount of Reward Dollars you'd like to use as a credit toward your next statement balance and the credit will usually appear within three days.

How long does Amex Canada take to approve? ›

The card issuer will give you an immediate decision after you submit your application. If you're approved, you'll typically receive a confirmation shortly after submission. If your application is pending, you can use the application status page or call the application status hotline to find out if you've been approved.

What's the easiest Amex to get approved for? ›

What's the easiest American Express card to get?
  • Best Overall: Blue Cash Everyday® Card from American Express.
  • Best for Cash Back Rewards: American Express Cash Magnet® Card.
  • Best for Airlines: Delta SkyMiles® Blue American Express Card.
  • Best for Hotels: Hilton Honors American Express Card.
Mar 27, 2024

Why was i rejected by Amex? ›

A low credit score, a history of late payments, and high debt are common reasons for application denial. Credit card reconsideration doesn't guarantee approval, but you might be able to qualify for that same card in the future.

Is American Express Virtual pay a credit card? ›

American Express (AMEX) Virtual Pay is a FREE virtual prepaid card linked to your GCash account and is available to Fully Verified GCash users with an active email address.

How to process a virtual payment with American Express? ›

Virtual Payments is included in your current acceptance contract with American Express, no additional enablement or activation is required from your side. How do I accept Virtual Payments? You should simply key the Account number and expiry date, as you would for a standard Cardholder-not-present transaction.

Can I use my US Amex in Canada? ›

American Express Cards are accepted around the world, so you can easily use your Card to make purchases while you are overseas. Here are some useful pre-travel tips: You don't need to call in to tell us you are traveling. Your card will work across the globe wherever American Express is accepted.

Is it worth getting an Amex in Canada? ›

With American Express gaining a strong foothold in the Great White North, they offer everything from no-fee options to luxury cash back credit cards. Whether you want to pay less interest or get travel discounts, there is likely an Amex card on the market that can meet your needs.

How much income do you need for American Express in Canada? ›

Amex has many great cards, and it's the only bank that does not discriminate by income and has no minimum income requirement for any of its cards (not even Canada's most premium card, with a $799 annual fee and luxury travel benefits like unlimited access to VIP airport lounges).

Can I withdraw cash from Amex in Canada? ›

Can I use my Card to withdraw cash at an ATM? The Express Cash and Cash Advance programs allow you to use your Card along with a Personal Identification Number (PIN) to withdraw cash at participating ATMs worldwide.

Can I convert my Amex points to cash? ›

The redemption of Points for Credit will be applied within 3 business days. It cannot be reversed and is not redeemable for cash via a credit balance refund.

Where can I withdraw cash from my American Express card? ›

American Express cards can only be used at ATMs with an American Express logo. U.S. Bank issued American Express cards don't require an ATM logo.

How long is the wait for Amex approval? ›

It takes approximately 14 business days to process a new application.

How quickly can I get an American Express card? ›

You should receive your new Card in 7 to 10 days. For the security of your account, we'll mail your new Card in a white envelope that has the American Express logo with an Omaha, NE return address.

Is American Express hard to get approved for? ›

It is hard to get an American Express credit card because all cards offered by American Express require good credit or better for approval, which may be out of reach for the average consumer. Applicants need a 700 credit score and a steady income to have good approval odds for an American Express credit card.

Is American Express hard pull if denied? ›

Yes, American Express does a hard inquiry on your credit report when you apply for a card, but it only takes place after you are approved for the card and choose to accept the offer. If your application is denied or you are approved but choose not to accept the card, there will only be a soft inquiry.

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