There are three type of Tradeshift Go virtual cards available for use:
- Subscription cards
- Multiple use cards
- Single use cards
Subscription cards
A subscription card is a type of "multiple use" virtual card refilled with the original value, on a regular schedule you define.
Subscription cards are requested the same way as regular virtual cards, with an extra step to select the refill schedule.
Subscription cards are be useful in the following scenarios:
- Allowing for one card to be used in a budgeting cycle
- The same budget value will be replenished at the beginning of each new cycle.
- Setting recurring auto payments
- You can provide card details to the recurring payment merchant, for autopay.
- The card is refilled with the same value at beginning of next cycle in anticipation of the auto payment (see Subscription Card Schedules below).
If subscription cards are available for your company, select Subscription in the Card type selection box. Subscription cards are labelled accordingly in your wallet view. Note that, if your subscription card is no longer usable, it is marked with a red banner.
Subscription card frequencies can be set to refill every:
- Day
- Week
- Month
- Quarter
- Year
If you don’t use the full amount on the card by the end of the subscription period, the balance is automatically refilled.
Example: If you have a subscription card for $100 but only spend $50, the balance will be refilled to $100 at the beginning of each term. After you select the refilling frequency, you must then set the end date for the subscription card. The rest of the request is executed the same way as the request for a regular card. Once the card has been approved, you can view the subscription card in your wallet, with the details above the billing address.
Subscription card schedules
Any subscription card will be refilled to its original limit on a schedule, which is based on date when the subscription card is created.
Example: If the card was created on the 15th of the month, and the card is set to renew monthly, it will be renewed on the 15th of subsequent months.
If using a subscription card for recurring auto-payments, the automated payment date should not be the same as the refill date, due to timing variances. If the card was created on a date that does not exist at the start of the next term (e.g. the 29th-31st of certain months), the card will be refilled on the last day of the month.
Multiple-use cards
A multiple-use card is a type of virtual card which can be used for multiple transactions.
Example: If you request a multiple use card for $100, you can use the same card for multiple transactions, until $100 is reached, or the card’s end date.
Multiple-use cards are labelled accordingly, in your wallet view.
This is the standard type of card for GO usage and it may be the only option your company allows.
Single-use cards
As the name indicates it, a single-use card is a card used only once.
Example: If you request a single-use card for $100, you can use it only once, whether for a partial amount, or the full $100. However, if the transaction fails/ is declined, the card is still active to be used.
Note: Once created, virtual cards cannot be changed or transferred to another user. Cards can be cancelled and requested again with different values, end dates, or by a different requester, if needed.