We've improved our support for virtual cards for Collectives and Hosts.
In May last year, we announced support for Virtual Cards. Today Virtual Cards have been used to spend over $500,000 through collectively-managed funds on Open Collective.
We've quietly continued to improve support for virtual cards over the past 18 months, including a transition in provider, but today we wanted to shine a light on the work we've done that's available to all our eligible users.
Improvements for Collectives Applications for virtual cards now include an assignee and proposed limit and be requested for Events and Projects as well as Collectives. Cards no longer have a single-merchant limit and will authorise transactions against your remaining balance in real-time. Receipts can be uploaded to transactions that are still processing for those of you who want to upload straight away from your phone. Finally, you can track the remaining balance on your virtual cards and pause, delete and edit settings from your virtual card settings page:
Improvements for Hosts Virtual cards can be assigned, modified, paused and resumed from within Open Collective. Cards are no-longer vendor locked and, most importantly, are checked against a Collective's balance in real-time. Collectives that are awaiting acceptance or have yet to receive any funds can no longer request virtual cards. We've also expanded the policy settings available to hosts, including the option to send automated reminders and suspend cards with missing receipts.
Eligibility Virtual Cards are available to Social and Solidarity projects hosted by Open Collective Europe, open source projects hosted by Open Source Collective and Educational, Social and Civic projects hosted by Open Collective Foundation. If you'd like to apply for a virtual card from any of these hosts, select 'request virtual card' from your Collective's actions menu. If you'd like to offer virtual cards to your hosted projects, get in touch.
You will need to apply on behalf of your collective through your host. More information here: https://docs.opencollective.com/help/expenses-and-getting-paid/virtual-cards
Lauren Gardner
Posted on December 19, 2022
You will need to apply on behalf of your collective through your host. More information here: https://docs.opencollective.com/help/expenses-and-getting-paid/virtual-cards