Virtual card aging and expiration

Virtual cards expire 30 days after the issue date. MineralTree's Payment Optimization team monitors virtual card payments to ensure that your suppliers receive and process the cards. If one of your suppliers hasn't accepted a virtual card payment by day 12, the Payment Optimization team will conduct a follow-call to that supplier with the goal of making sure they accept their payment prior to the card expiration date.

Reissuing a card

Because the Payment Optimization team calls suppliers who have cards nearing expiration, you will likely be aware in advance if a payment will expire. The Payment Optimization team will attempt to reach your supplier before the payment expires.

If a virtual card does expire, meaning it was not processed by the supplier within the 30-day time frame, MineralTree's Payment Optimization team will help you reissue a new virtual card payment to the supplier.

Here is the process for an expired virtual card:

• After the virtual card has expired, the MineralTree team will create a support ticket that alerts you that the virtual card has expired before the supplier processed the payment.

• You'll be advised to issue the payment to that supplier through virtual card or another payment method, if you prefer..

Check if a virtual card has been redeemed

You can view the latest status of a virtual card payment from the history tab of the posted payment.

1. Go to Accounts Payable > All > Payments > Posted payments.

2. Find the payment for the virtual card and select View.

3. On the History tab, check the Electronic payment history.

   If a virtual card has been redeemed by the supplier, you'll see "Virtual card redeemed in full" in the description column.