Beyond impacting your organization’s bottom line, virtual cards enable your vendors to be paid quickly and are one of the most secure electronic payment methods available.
What are virtual cards?
What are the benefits of virtual cards?
For Your Vendors
- Allows payment to be deposited directly into their bank account
- Enables vendors to be paid faster
- Eliminates paper checks and the need for bank deposits
- Includes electronic remittance detail
For Your Organization
- Eliminates the check payment process and potential for lost/stolen checks
- Reduces exposure to check fraud
- Ensures against late payment fees
- Earns your organization 0.5% cashback for all qualifying transactions
- Eases the reconciliation process since payments appear as a debit on your bank statement
Does MineralTree offer virtual cards as a payment method?
MineralTree customers benefit from cashback rebates and don’t need to apply for or receive a commercial credit card. Customers receive 0.5% cashback for all qualifying transactions. Rebates are paid quarterly by MineralTree in the customer’s preferred payment method (check, ACH).
Vendors who already accept credit card payments are automatically enrolled in
How do I know which vendors accept virtual cards?
You will be notified of which vendors accept these virtual card payments, what your historical annual spend is, and what your anticipated rebates will be.