How many people can use the same card on Google Wallet? A company of 120 developers would like to purchase one credit card, deposit some money on it and give it to their employees on usage. 

Employees will use it solely on Google Play to purchase applications. 

Does anyone know what is the max number of accounts that can use the same credit card?
Here's my direct experience with something similar on a much smaller scale:

My girlfriend and I setup a joint Google account so we could share purchased apps. I added to it a card of mine that was already on my own Wallet account. The new account was IMMEDIATELY frozen and I couldn't make any purchases. After digging into it, I was told that if there's any suspicious activity, especially on a new account, including adding a card that already exists on another account, they automatically freeze it for an unspecified period of time.

In my case, about 48 hours later it unfroze.

I realize this doesn't confirm what would happen if you did this for 100+ accounts, but from experience they did react rather dramatically to it being added to only ONE additional account. I suspect I was unfrozen on goodwill as the account didn't exhibit any other suspicious behavior. The card being added over and over to dozens of accounts would likely trip higher-level oversight and lead to a problem.

One note: I've actually had good experience with Google's phone support when resolving a Wallet-related problem with the Play Store. The person I spoke to was helpful and was able to contact a higher-up for policy information, and provided me with an accurate solution. Supposedly this number is a direct line to their support. I'd recommend getting an official statement from them before making any major decisions.