Amex Taps Virtual Cards for Business Travel Expenses
American Express is the latest payments company to recognize the benefits of enabling virtual payments for business travel.
The addition of virtual account numbers to its Business Travel Account (BTA) “gives companies greater control and more visibility into their business travel expenses,” the company notes.
Working with virtual account number specialist Conferma, American Express said the enhanced BTA enables businesses to set usage dates and pre-authorize spending limits at the time of booking, helping reduce fraud and encourage compliance with company travel policies. It also provides options for more types of business travelers, including large groups, employees who do not have corporate cards and non-employees, such as job applicants and consultants, according to an announcement.
“We understand that corporate travel is a major expense for many companies and can be a time-consuming and difficult process to manage,” said Gint Balodis, vice president, global product management, American Express global commercial payments. “Our improvements in the enhanced Business Travel Account further centralize control into one account, making the process of purchasing, tracking and reconciling travel expenses easier than in the past.”
The enhanced BTA is now available in the U.S., Australia and the U.K.