Global Virtual Cards Market Size By Type (B2C Virtual Cards, B2B Virtual Cards, B2C POS Virtual Cards), By End-User (Consumers, Businesses), By Geographic Scope And Forecast

Virtual Cards Market Size And Forecast

Virtual Cards Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2030.

The global Virtual Cards Market is likely to be driven by the surge in online payments and the need for an extra layer of security in the online payment gateway system is driving the demand for virtual cards. The Global Virtual Cards Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Virtual Cards Market Definition

A virtual card is not a physical card made of plastic. Instead, it’s a set of sixteen numbers, identical to a credit or debit card number, plus a CVV code generated at random by software. A virtual card is a token-based digital payment system that is used for electronic payments. Tokenization is used to generate credentials automatically, and the cards include built-in financial controls to finance the card for single-use or multi-purpose transactions.

Global Virtual Cards Market Overview

The demand for virtual cards is likely to increase as the number of electronic transactions increases globally. Due to increased urbanization, cell phones, online payment methods, and online shopping are also on the rise. Online transactions are preferred for online purchasing since it is more convenient, efficient, and helpful. As a result, demand for virtual cards is likely to increase in the forecasted period.

Virtual cards are revolutionizing the financial environment by adding a new layer of security for everyone participating in the transaction. One business that has embraced the use of virtual cards is hospitality. Virtual cards are one possibility for making payments more flexible throughout the check-in process. Contactless Payments come as an added plus when using virtual card payments. Because a virtual card isn’t a tangible object, there’s no risk of it being touched or handled by others and potentially transmitting infections, which explains why virtual cards were in high demand during the covid19 breakout.

Global Virtual Cards Market Segmentation Analysis

The Global Virtual Cards Market is segmented based on Type, End-User, and Geography.

Virtual Cards Market, By Type

• B2C Virtual Cards• B2B Virtual Cards• B2C POS Virtual Cards• Others

Based on Type, the market is segmented into B2C Virtual Cards, B2B Virtual Cards, B2C POS Virtual Cards, and Others. The B2C virtual cards are predicted to grow significantly during the forecasted period owing to growing awareness among consumers.

Virtual Cards Market, By End-User

• Consumers• Businesses

Based on End-User, the market is segmented into Consumers and Businesses.

Virtual Cards Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, the Global Virtual Cards Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America holds the largest proportion of the Virtual Cards Market followed by Europe and the Asia Pacific region. The United States and Canada are the two primary countries in this region that drive the industry. Some of the important factors driving market expansion are the existence of market leaders and the trend of early technology adoption.

Key Players

The “Global Virtual Cards Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Mastercard, VISA, Divipay PTY Ltd., Emburse LLC., JP Morgan Chase, Marqeta Inc, MineralTree, Inc., WEX Inc., American Express Company, Billtrust, Inc., Cryptopay, Wirecard AG, and Skrill.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• On May 2022, Google is working with Visa, Mastercard, and American Express to bring virtual cards to Chrome and Android.

• On Jan 2022, Mastercard unveiled Mastercard Track Instant Pay, a next-generation virtual card solution that enables instant payment of supplier invoices.

Report Scope

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Reasons to Purchase this Report

We take a close look at the market using both qualitative and quantitative analysis, breaking it down by economic and non-economic factors. You'll get clear market value figures (in USD Billion) for every segment and sub-segment. We'll point out which region and segment we think will grow the fastest and be the biggest. Our analysis covers different geographies, highlighting product/service use and the factors influencing each region's market. The competitive landscape section ranks the major players and includes details on their new offerings, partnerships, expansions, and acquisitions over the last five years. Plus, we provide extensive company profiles with overviews, insights, product comparisons, and SWOT analyses for the key players. We also look at the present and future of the industry, considering recent developments, growth opportunities, and challenges in both emerging and developed regions. Expect an in-depth look at the market from multiple angles, using Porter's five forces analysis and a clear value chain breakdown. We also provide insights into market dynamics and future growth opportunities. And to top it off, we offer 6 months of post-sales analyst support!

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