You can use the VISA Real-Time Feed (RTF) feature to import your organization's corporate credit card transactions into Fyle to simplify reconciliation.
In order to enable the VISA Real-time Feed feature, you will need to ensure:
You are subscribed to the Business or Enterprise Plan.
Your organization's home currency is USD.
Your organization's corporate credit cards are on the VISA card network issued by any US bank.
Enable Visa Real-time Feed
If all the requirements above are met, you can enable the VISA RTF from your admin settings. Follow the steps mentioned below to set up the same:
Click on the gear icon in the top right corner of your screen to navigate to admin settings.
From the left side panel, click on Cards and select Corporate Cards.
Scroll down and toggle VISA Real-Time Feed to Yes.
Once the feature is enabled, the individual cardholders will have to connect and verify their cards. As an admin, you will be able to remind the spenders to perform these actions.
Users will have to connect and verify their cards, in order to add the card to their Fyle account they can do so from their account settings. In order to verify the card, the user will have to make a purchase on the card after it has been added to Fyle and then verify that purchase.
NOTE: Transactions from the RTF will only flow into Fyle post the verification of the card. Any transactions that are missed can be added via uploading bank statements.
Once a user has connected and verified their card, you will see card transactions coming into Fyle in real time. Once a transaction is made on the card, Fyle will automatically create a transaction for the spend that was made in the respective user's account. This will reduce the manual effort and time spent to create expenses from scratch. The user can add receipts and fill in any mandatory details before they submit the expense for approval.
Note: SMS charges will be as per the carrier's standard rate.
Feel free to reach us at [email protected] for any clarifications or issues.
To learn more about the VISA RTF transaction behavior, click here.
To read through the VISA RTF launch PR, click here.