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 vendors receive and process the cards. If one of your vendors hasn't accepted a virtual card payment by day 12, the Payment Optimization team will conduct a follow-call to that vendor 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 vendors 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 vendor before the payment expires.

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

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 vendor processed the payment.

• You'll be advised to issue the payment to that vendor 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 vendor, you'll see "Virtual card redeemed in full" in the description column.