The North America Virtual Cards Market would witness market growth of 18.6% CAGR during the forecast period (2022-2028).
There are anticipated to be new prospects for market growth as a result of the growing benefits of these cards, which include the ability to establish spending restrictions and cancel or pause a card at any time, among other things. Additionally, virtual cards cannot be stolen or lost in contrast to physical cards. The demand for different kinds of virtual cards is anticipated to be driven by the rising number of digital transactions globally, which will support market expansion. A significant number of customers favored contactless payment over new payment trends, like digital currencies, biometrics, and QR codes. As a result, payment service providers regularly roll out a variety of pay and shop options for customers.
The utilization of virtual cards is increasing at a very rapid rate in this region. The growing popularity of digital payment methods and the strong presence of key market players are owing to the expansion of the virtual card market. Additionally, technologically upgraded deployments like 4G and 5G will open up a variety of potential opportunities for the development of the virtual cards market. Furthermore, there are many virtual card providers in this region, including Bill Trust, Inc., JP Morgan Chase, and Stripe.
The presence of such important providers encourages the growth of the virtual cards market in this region. Due to factors, like the increasing adoption of digital payment platforms, the existence of major players, and the implementation of cutting-edge technologies, including 5G/4G, the virtual cards market in North America has experienced substantial growth. Due to all of these factors, market players are witnessing a number of lucrative prospects and the growth of the region is flourishing.
The US market dominated the North America Virtual Cards Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8,180.1 million by 2028. The Canada market is experiencing a CAGR of 20.8% during (2022 - 2028). Additionally, The Mexico market would generate a CAGR of 20.5% during (2022 - 2028).
Based on Product Type, the market is segmented into B2B, B2C and C2B. Based on Card Type, the market is segmented into Credit and Debit. Based on Application, the market is segmented into Business Use and Consumer Use. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Virtual Cards Market is Estimated to reach $37.5 Billion by 2028, at a CAGR of 19.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mastercard, Inc., American Express Kabbage Inc., JPMorgan Chase & Co., Stripe, Inc., Adyen N.V., BTRS Holdings Inc., Wise Payments Limited, Marqeta Inc., Skrill USA, Inc., and Wex, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
By Card Type
By Application
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Mastercard, Inc.
- American Express Kabbage Inc.
- JPMorgan Chase & Co.
- Stripe, Inc.
- Adyen N.V.
- BTRS Holdings Inc.
- Wise Payments Limited
- Marqeta Inc.
- Skrill USA, Inc.
- Wex, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Virtual Cards Market, by Product Type
1.4.2 North America Virtual Cards Market, by Card Type
1.4.3 North America Virtual Cards Market, by Application
1.4.4 North America Virtual Cards Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Oct – 2022, Jun) Leading Players
Chapter 4. North America Virtual Cards Market by Product Type
4.1 North America B2B Market by Country
4.2 North America B2C Market by Country
4.3 North America C2B Market by Country
Chapter 5. North America Virtual Cards Market by Card Type
5.1 North America Credit Market by Country
5.2 North America Debit Market by Country
Chapter 6. North America Virtual Cards Market by Application
6.1 North America Business Use Market by Country
6.2 North America Consumer Use Market by Country
Chapter 7. North America Virtual Cards Market by Country
7.1 US Virtual Cards Market
7.1.1 US Virtual Cards Market by Product Type
7.1.2 US Virtual Cards Market by Card Type
7.1.3 US Virtual Cards Market by Application
7.2 Canada Virtual Cards Market
7.2.1 Canada Virtual Cards Market by Product Type
7.2.2 Canada Virtual Cards Market by Card Type
7.2.3 Canada Virtual Cards Market by Application
7.3 Mexico Virtual Cards Market
7.3.1 Mexico Virtual Cards Market by Product Type
7.3.2 Mexico Virtual Cards Market by Card Type
7.3.3 Mexico Virtual Cards Market by Application
7.4 Rest of North America Virtual Cards Market
7.4.1 Rest of North America Virtual Cards Market by Product Type
7.4.2 Rest of North America Virtual Cards Market by Card Type
7.4.3 Rest of North America Virtual Cards Market by Application
Chapter 8. Company Profiles
8.1 Mastercard, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 Recent strategies and developments:
8.1.4.1 Partnerships, Collaborations, and Agreements:
8.1.4.2 Product Launches and Product Expansions:
8.1.4.3 Acquisition and Mergers:
8.2 American Express Kabbage Inc. (American Express Company)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Partnerships, Collaborations, and Agreements:
8.3 JPMorgan Chase & Co. (Wepay, Inc.)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Product Launches and Product Expansions:
8.3.4.3 Acquisition and Mergers:
8.4 Stripe, Inc.
8.4.1 Company Overview
8.4.2 Recent strategies and developments:
8.4.2.1 Partnerships, Collaborations, and Agreements:
8.4.2.2 Acquisition and Mergers:
8.4.2.3 Geographical Expansions:
8.5 Adyen N.V.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Recent strategies and developments:
8.5.4.1 Product Launches and Product Expansions:
8.6 BTRS Holdings Inc. (Billtrust)
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental Analysis
8.6.4 Research & Development Expenses
8.7 Wise Payments Limited
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Recent strategies and developments:
8.7.4.1 Partnerships, Collaborations, and Agreements:
8.7.4.2 Geographical Expansions:
8.8 Marqeta, Inc.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Research & Development Expenses
8.8.4 Recent strategies and developments:
8.8.4.1 Partnerships, Collaborations, and Agreements:
8.9 Skrill USA, Inc. (PaySafe Ltd.)
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.10. WEX, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Recent strategies and developments:
8.10.4.1 Partnerships, Collaborations, and Agreements:
8.10.4.2 Acquisition and Mergers:
8.10.4.3 Geographical Expansions:
TABLE 1 North America Virtual Cards Market, 2018 - 2021, USD Million
TABLE 2 North America Virtual Cards Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Virtual Cards Market
TABLE 4 Product Launches And Product Expansions – Virtual Cards Market
TABLE 5 Acquisition and Mergers – Virtual Cards Market
TABLE 6 Geographical Expansions – Virtual Cards Market
TABLE 7 North America Virtual Cards Market by Product Type, 2018 - 2021, USD Million
TABLE 8 North America Virtual Cards Market by Product Type, 2022 - 2028, USD Million
TABLE 9 North America B2B Market by Country, 2018 - 2021, USD Million
TABLE 10 North America B2B Market by Country, 2022 - 2028, USD Million
TABLE 11 North America B2C Market by Country, 2018 - 2021, USD Million
TABLE 12 North America B2C Market by Country, 2022 - 2028, USD Million
TABLE 13 North America C2B Market by Country, 2018 - 2021, USD Million
TABLE 14 North America C2B Market by Country, 2022 - 2028, USD Million
TABLE 15 North America Virtual Cards Market by Card Type, 2018 - 2021, USD Million
TABLE 16 North America Virtual Cards Market by Card Type, 2022 - 2028, USD Million
TABLE 17 North America Credit Market by Country, 2018 - 2021, USD Million
TABLE 18 North America Credit Market by Country, 2022 - 2028, USD Million
TABLE 19 North America Debit Market by Country, 2018 - 2021, USD Million
TABLE 20 North America Debit Market by Country, 2022 - 2028, USD Million
TABLE 21 North America Virtual Cards Market by Application, 2018 - 2021, USD Million
TABLE 22 North America Virtual Cards Market by Application, 2022 - 2028, USD Million
TABLE 23 North America Business Use Market by Country, 2018 - 2021, USD Million
TABLE 24 North America Business Use Market by Country, 2022 - 2028, USD Million
TABLE 25 North America Consumer Use Market by Country, 2018 - 2021, USD Million
TABLE 26 North America Consumer Use Market by Country, 2022 - 2028, USD Million
TABLE 27 North America Virtual Cards Market by Country, 2018 - 2021, USD Million
TABLE 28 North America Virtual Cards Market by Country, 2022 - 2028, USD Million
TABLE 29 US Virtual Cards Market, 2018 - 2021, USD Million
TABLE 30 US Virtual Cards Market, 2022 - 2028, USD Million
TABLE 31 US Virtual Cards Market by Product Type, 2018 - 2021, USD Million
TABLE 32 US Virtual Cards Market by Product Type, 2022 - 2028, USD Million
TABLE 33 US Virtual Cards Market by Card Type, 2018 - 2021, USD Million
TABLE 34 US Virtual Cards Market by Card Type, 2022 - 2028, USD Million
TABLE 35 US Virtual Cards Market by Application, 2018 - 2021, USD Million
TABLE 36 US Virtual Cards Market by Application, 2022 - 2028, USD Million
TABLE 37 Canada Virtual Cards Market, 2018 - 2021, USD Million
TABLE 38 Canada Virtual Cards Market, 2022 - 2028, USD Million
TABLE 39 Canada Virtual Cards Market by Product Type, 2018 - 2021, USD Million
TABLE 40 Canada Virtual Cards Market by Product Type, 2022 - 2028, USD Million
TABLE 41 Canada Virtual Cards Market by Card Type, 2018 - 2021, USD Million
TABLE 42 Canada Virtual Cards Market by Card Type, 2022 - 2028, USD Million
TABLE 43 Canada Virtual Cards Market by Application, 2018 - 2021, USD Million
TABLE 44 Canada Virtual Cards Market by Application, 2022 - 2028, USD Million
TABLE 45 Mexico Virtual Cards Market, 2018 - 2021, USD Million
TABLE 46 Mexico Virtual Cards Market, 2022 - 2028, USD Million
TABLE 47 Mexico Virtual Cards Market by Product Type, 2018 - 2021, USD Million
TABLE 48 Mexico Virtual Cards Market by Product Type, 2022 - 2028, USD Million
TABLE 49 Mexico Virtual Cards Market by Card Type, 2018 - 2021, USD Million
TABLE 50 Mexico Virtual Cards Market by Card Type, 2022 - 2028, USD Million
TABLE 51 Mexico Virtual Cards Market by Application, 2018 - 2021, USD Million
TABLE 52 Mexico Virtual Cards Market by Application, 2022 - 2028, USD Million
TABLE 53 Rest of North America Virtual Cards Market, 2018 - 2021, USD Million
TABLE 54 Rest of North America Virtual Cards Market, 2022 - 2028, USD Million
TABLE 55 Rest of North America Virtual Cards Market by Product Type, 2018 - 2021, USD Million
TABLE 56 Rest of North America Virtual Cards Market by Product Type, 2022 - 2028, USD Million
TABLE 57 Rest of North America Virtual Cards Market by Card Type, 2018 - 2021, USD Million
TABLE 58 Rest of North America Virtual Cards Market by Card Type, 2022 - 2028, USD Million
TABLE 59 Rest of North America Virtual Cards Market by Application, 2018 - 2021, USD Million
TABLE 60 Rest of North America Virtual Cards Market by Application, 2022 - 2028, USD Million
TABLE 61 key Information – Mastercard, Inc.
TABLE 62 Key Information – American Express Kabbage Inc.
TABLE 63 key information – JPMorgan Chase & Co.
TABLE 64 Key information – Stripe, inc.
TABLE 65 Key Information – Adyen N.V.
TABLE 66 Key Information – BTRS Holdings Inc.
TABLE 67 Key Information – Wise Payments Limited
TABLE 68 Key Information – Marqeta, Inc.
TABLE 69 Key Information – Skrill Usa, Inc.
TABLE 70 Key Information – WEX, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Oct – 2022, Jun) Leading Players
FIG 5 Recent strategies and developments: Mastercard, Inc.
FIG 6 Recent strategies and developments: JPMorgan Chase & Co.
FIG 7 Recent strategies and developments: Stripe, Inc.
FIG 8 Recent strategies and developments: Wex, Inc.