Virtual Gift Cards for Employees: How Businesses Can Send Digital Rewards
Businesses may recognize employees for completing a project, reaching a milestone, or contributing to team results. Gift cards are one way to provide these rewards, but purchasing and distributing physical cards can involve additional work. Virtual gift cards for employees offer a digital alternative that businesses can issue through supported online card programs. Before creating employee gift cards, businesses should understand delivery methods, funding requirements, spending restrictions, and payroll tax obligations. What Are Virtual Gift Cards for Employees? A virtual gift card is a digital payment card issued for a specified amount or under an available card program. Employees receive the card's access information electronically instead of receiving a physical card. A virtual Visa gift card can be used at participating merchants that accept the applicable card type, subject to available funds, merchant acceptance, and program restrictions. How Do Businesses Send Employee Gif...