As an admin on Fyle, you can easily create and issue American Express virtual cards to your employees in your organization.
Prerequisites
Please note that you are eligible to issue American Express virtual cards to your employees only if you have access to American Express Direct Feed in your organization's Fyle account. Here are the steps to get access.
What are virtual cards?
You can use Fyle to create unlimited virtual cards that share the credit line of your existing funding card from American Express. You can customise the credit limit and expiry date for each virtual card you create and issue it to employees in your organization. All of this can be done directly from your Fyle account.
Employees can use their virtual cards for various kinds of transactions. Here's more on how to add virtual cards to digital payment wallets.
Steps to issue virtual cards
Navigate to Corporate Cards > Manage Cards > Assigned Cards.
Click on Create Virtual Card.
Enter the details of the cardholder. This includes:
Email: Select the employee to whom you want to assign the virtual card.
First Name, Last Name, Date of Birth: Ensure that the details entered are accurate as per US Postal Service. Any mismatch will prevent the virtual card from being created.
Residential Address: Ensure that the details entered are accurate as per US Postal Service. Only residential addresses are supported. P.O. boxes or commercial mail-receiving agencies are prohibited. Any mismatch will prevent the virtual card from being created.
After entering these details, click on Next.
Enter the details of the card. This includes:
Card Limit: Set a lifetime limit for the virtual card. The card will be marked inactive once this limit is reached. This limit does not reset on a monthly basis.
Card Validity: Set the start and end date for the usage of the virtual card. By default, the expiry date of the card is 5 years from date of creation.
Nickname: Set a nickname for easier identification of the card.
After entering these details, click on Create. This will successfully create your virtual card and assign it to the selected employee.
After successful creation, your employee will receive an email about the new virtual card. They can immediately start using it for payments.