Based on the partnership between American Express and Payhawk, US-based companies can take advantage of the card feed-linking functionality and the automated expense and spend management capabilities of the Payhawk system.
Card feed linking, also known as bank feed linking, transaction feed linking, or Bring Your Own Card (BYOC), is a process where transactions from a credit or debit card are automatically imported into a financial software or application.
The card feed linking process is facilitated through a secure connection between the financial institution that issues the card and the financial software or application. On top of the card linking, the card can also be used for virtual card provisioning with advanced controls.
The card feed linking process in Payhawk
In the Payhawk context, card feed linking means that you:
Issue virtual American Express Cards through Payhawk using the physical Cards as a funding source.
Manage your virtual Cards using the automated Payhawk expense and spend management capabilities.
Benefits
You can make use of the automated expense and spend management solution offered by Payhawk while keeping the familiar experience of your current banking products.
You can also streamline reconciliation in the Payhawk experience by linking American Express Card transaction feeds into the software.
Your Payhawk administrators can issue virtual cards with advanced card controls over the linked physical American Express Cards.
Specifics
You can take advantage of the American Express Card feed linking in Payhawk only if your company is US-based.
In the case of group entities, the companies registered in the US will only be able to utilize the American Express Card feed linking functionality.
In Payhawk, you can link your American Express Business or Corporate Cards only.
Reconciliation with card feed linking in Payhawk
In Payhawk, reconciliation is the process of mapping and transferring your accounting data into exports and the ERP or accounting software systems you are using.
With the card feed lining, each transaction happening on the linked physical American Express Card appears as a payment that has been executed through Payhawk. You can map each linked Card to a different general ledger account.