Fyle, an expense management platform that works with customers’ existing credit cards, has announced a new integration with American Express to offer US Business and Corporate Card Members the ability to issue on-demand virtual cards via the Fyle platform, with built-in controls, and enhanced security. To achieve this integration, Fyle is participating in the American Express Sync Commercial Partner Program.

Yashwanth Madhusudhan, Co-Founder & CEO of Fyle, said: “We are teaming up with American Express to give our customers access to the control, enhanced security, and cash flow management that come with using an American Express virtual card, alongside the ability to automate receipt tracking, credit card reconciliation, and expense accounting with Fyle. The integration helps us provide an elevated user experience and more value to our customers.” 

Fyle aims to reduce time spent on expense management

With the integration, customers with an American Express Business or Corporate Card can issue unlimited virtual cards linked to their existing physical cards using Fyle. The benefits of issuing virtual cards are: establish specific controls for each on-demand virtual card, including spending limits and expiration dates, ay suppliers using virtual cards and take advantage of their American Express billing cycle to manage cash flow for their business until their card payment is due and receiving real-time transaction data and notifications via text messages to maximise visibility.

Fyle has the singular aim of reducing the time spent on expense management. Employees can submit receipts from everyday apps like Text Messaging, Gmail, Outlook, Slack, and more. Fyle’s AI-enabled engine codes and categorises data, assigns it to the right projects & cost centres, and pushes the data to accounting software like NetSuite, Sage Intacct, QuickBooks Online, or Xero.

The benefits also include the ability to automate receipt collection and make reconciliation faster with Fyle’s expense management platform and pay with enhanced security by enabling employees, freelancers, and subcontractors to make payments on their behalf without sharing their physical card details.

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By GlobalData