Fyle Announces New Integration with American Express

Expense management platform Fyle has unveiled an integration with American Express, enabling U.S. Business and Corporate Card Members to issue on-demand virtual Cards via the Fyle platform. This integration offers enhanced security, built-in controls, and comes in response to a growing need for flexible and secured digital payment options in the business world.

Fyle Joins American Express Sync™ Commercial Partner Program

Fyle’s role in the American Express Sync™ Commercial Partner Program allows for the development of this integration. Together, Fyle and American Express aim to provide users with the means to automate receipt tracking, credit card reconciliation, and expense accounting. This collaboration hopes to enhance the user experience and provide increased value to their customers, according to Yashwanth Madhusudan, Co-Founder & CEO of Fyle.

Advantages of Issuing Virtual Cards

The integration allows American Express Business or Corporate Card holders to issue an unlimited number of virtual Cards linked to their existing physical cards through Fyle. The benefits of issuing virtual Cards include the ability to establish specific controls for each on-demand virtual Card. These controls can include spending limits and expiration dates, thereby offering businesses a greater degree of financial control.

Additionally, businesses can utilize virtual Cards to pay suppliers, leveraging the American Express billing cycle to manage their cash flow more effectively. The integration also brings real-time transaction data and notifications via text messages, increasing visibility for users.

The platform also automates receipt collection and accelerates reconciliation, thanks to Fyle’s expense management platform. For added security, the solution enables employees, freelancers, and subcontractors to make payments on behalf of the company without sharing their physical Card details.

A Unique Integration

The integration of Fyle with American Express cards stands out in the current marketplace. Joe Woodard, CEO of Woodard, views it as a unique offering that can provide increased security and spending controls for his company. The integration is expected to help businesses manage their expenses more effectively, efficiently, and securely.