According to a new report, published by KBV research, The Global Virtual Cards Market size is expected to reach $37.5 billion by 2028, rising at a market growth of 19.1% CAGR during the forecast period.
The B2C market has shown the high growth rate of 21.4% during (2022 - 2028). These cards are provided by banks to their retail customers, assisting them in making efficient online payments. These cards also have a limited validity period and are only used for one-time payments. The consumer can generate the expiration date, virtual card number, and security code (CVV) using the bank's mobile application or website.
The Credit market has acquired the maximum revenue share in the Global Virtual Cards Market by Card Type in 2021; thereby, achieving a market value of $23.75 billion by 2028. The increase in interest in preventing corporate fraud is attributed to the growth of the segment. In order to reduce these risks, companies have switched to centralized, controlled, and seamless payment methods, like Virtual Credit Cards (VCCs).
The Consumer Use market is generating the CAGR of 21.4% during (2022 - 2028). One of the important elements that are anticipated to fuel the segment's growth is the rising customer preference for digital payments as a result of the pandemic. Virtual card payments are preferred by customers all over the world over cash purchases because of the many advantages they provide, including convenience and accessibility.
The Europe market dominated the Global Virtual Cards Market by Region in 2021, thereby, achieving a market value of $13.7 billion by 2028. The Asia Pacific market is expected to witness a CAGR of 19.7% during (2022 - 2028). Additionally, The North America market is expected to witness a CAGR of 18.6% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/virtual-cards-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Product Type
By Card Type
By Application
By Geography
Companies Profiled
Unique Offerings 
