The Worldwide Virtual Cards Market is Projected to reach USD 37.5 Billion by 2028, at a CAGR of 19.1%

Published Date: 30-Sep-2022

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Virtual Cards Market Growth, Trends and Report Highlights

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:

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.

Global Virtual Cards Market Segmentation

By Product Type

  • B2B
  • B2C
  • C2B

By Card Type

  • Credit
  • Debit

By Application

  • Business Use
  • Consumer Use

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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.

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  • The highest number of Market tables and figures
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Related Reports:

North America Virtual Cards Market size & Opportunities 2022-2028

Europe Virtual Cards Market & Growth Forecast 2022-2028

Asia Pacific Virtual Cards Market Share & Industry Outlook to 2028

LAMEA Virtual Cards Market Growth, Trends & Forecasts 2022-2028

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