American Express Launches New Virtual Payments Offering For Business Expenses

American Express (NYSE:AXP) announced on Thursday the launch of American Express Go, a new digital solution to help mid-sized and large companies efficiently handle business expenses for temporary workers, recruits, and employees without Corporate Cards.

According to the financial giant, American Express Go features a Virtual Card that can be used online or over the phone and has the option for the virtual numbers to be printed on companion plastic Cards for in-person payments everywhere American Express is accepted. It was revealed:

“American Express Go offers a simple, intuitive mobile experience for freelancers and project-based workers to make business purchases with company funds, thereby removing the need for a reimbursement process. The solution also increases control and visibility for companies when it comes to purchases made by their extended workforce, whether it’s project supplies, business dinners, or travel expenses.”

American Express also noted that American Express Go can easily be added to an existing American Express Corporate payments program. While sharing more details about the feature, Gint Balodis, Vice President, Global B2B Products of American Express Global Commercial Services, stated:

“Mid-sized and large companies are operating with a new, dynamic workforce, as they increasingly employ freelancers and contractors, who previously had to wait for several weeks to be reimbursed for business and travel purchases. American Express Go was created to alleviate customer pain points faced by companies and their changing workforce by combining the control and flexibility of Virtual Cards with the convenience of a physical Card that can be swiped on the go.”

Once American Express Go is added to an existing American Express® program, mid-sized and large companies can:

  • Quickly issue a Virtual Card—a specific-use, temporary account number with pre-authorized spend and timeframe limits—to the Amex® Go mobile app or a companion reusable, plastic Card for in-person purchases
  • Enable their employees and contingent workforce to make purchases on the go
  • Easily track and reconcile charges with important details like names, cost centers, and accounting codes
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