Market Overview:
The global virtual cards market is expected to grow at a CAGR of 16.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for online and mobile payments, rising adoption of cloud-based solutions, and growing need for fraud prevention and security measures. The global virtual cards market is segmented on the basis of type into B2B virtual cards, B2C remote payment virtual cards, and B2C POS virtual cards. The B2B segment is expected to account for the largest share of the global market in 2018 owing to the increasing demand from businesses for secure online payments. However, the B2C remote payment segment is projected to grow at a higher CAGR during the forecast period as compared to other segments due to an increase in e-commerce activities across different regions. On basis of application, consumer use accounted for majority share of total revenue generated by Virtual Cards Market in 2017; however business use is anticipated register highest CAGR over next few years owing escalating number small & medium sized businesses (SMBs) implementing such solution globally . Other applications include travel & entertainment expenses management among others which are further gaining traction with corporates as well consumers due shift towards paperless transactions that offer convenience , speedier approvals along with enhanced security features .
Product Definition:
A virtual card is a type of payment card that does not have a physical counterpart. A virtual card is created and used electronically, typically through an online banking or shopping interface.
B2B Virtual Cards:
B2B virtual cards are also known as B2C virtual cards. They are a digital representation of a credit or debit card that can be used to make online purchases or payment for products and services sold by businesses in the B2B sector (Business-to-Business). The main function of these cards is to allow businesses to securely process transactions without having access to physical card details. These transaction processes occur through the internet, thereby eliminating issues such as chargebacks and frauds.
B2C Remote Payment Virtual Cards:
B2C Remote Payment Virtual Cards are digital cards that enable consumers to make payments via the internet. They have a unique 16-digit card number and can be used anywhere that provides electronic payment facilities. The B2C Remote Payment Virtual Card is managed by a bank or financial institution, which creates an account for the consumer and holds the funds collected from the transaction.
Application Insights:
The business use segment dominated the global virtual cards market in 2017, accounting for over 60.0% share of the total revenue. The growth can be attributed to a rise in demand for payment solutions that are efficient, secure and easy to operate for small businesses. Furthermore, an increase in e-commerce transactions has led to an increased need for payment solutions such as e-wallets and virtual cards that offer convenience while making payments online or offline.
The consumer use segment is expected to witness significant growth over the forecast period owing to rising adoption of smartphones globally coupled with increasing awareness regarding mobile wallets and m-wallets among consumers across various regions including APAC, North America and Europe.
Regional Analysis:
The market in Asia Pacific is expected to grow at a significant rate over the forecast period. The growth can be attributed to the increasing use of virtual cards for payment across various applications such as e-commerce, online gaming, and mobile payments. The growing adoption of smartphones coupled with internet availability has fueled the demand for virtual card based transactions in this region. Furthermore, technological advancements such as Near-field Communication (NFC) and contactless technology are also contributing towards regional growth by enabling secure digital transactions at POS terminals.
The European market accounted for more than 20% share in 2016 owing to high acceptance of new technologies along with increased usage of plastic money substitutes among consumers looking for security against hackers or currency fluctuations. Moreover, government initiatives promoting cashless economy are further driving regional growth over the forecast period.
Growth Factors:
- Increasing demand for convenience and security in payments
- Proliferation of digital platforms and e-commerce businesses
- Rising number of mobile users and increasing penetration of smartphones
- Growing preference for virtual cards over traditional payment methods
- Emerging economies with high potential for growth
Scope Of The Report
Report Attributes
Report Details
Report Title
Virtual Cards Market Research Report
By Type
B2B Virtual Cards, B2C Remote Payment Virtual Cards, B2C POS Virtual Cards
By Application
Consumer Use, Business Use, Other
By Companies
Abine, American Express, Billtrust, Cryptopay, CSI (Corporate Spending Innovations), DiviPay, Emburse, Fraedom, JP Morgan Chase, Marqeta, Mastercard, Mineraltree, Pay with Privacy, Qonto, Skrill, Stripe, Token, Wex, Wirecard
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global Virtual Cards Market Report Segments:
The global Virtual Cards market is segmented on the basis of:
Types
B2B Virtual Cards, B2C Remote Payment Virtual Cards, B2C POS Virtual Cards
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Consumer Use, Business Use, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abine
- American Express
- Billtrust
- Cryptopay
- CSI (Corporate Spending Innovations)
- DiviPay
- Emburse
- Fraedom
- JP Morgan Chase
- Marqeta
- Mastercard
- Mineraltree
- Pay with Privacy
- Qonto
- Skrill
- Stripe
- Token
- Wex
- Wirecard
Highlights of The Virtual Cards Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- B2B Virtual Cards
- B2C Remote Payment Virtual Cards
- B2C POS Virtual Cards
- By Application:
- Consumer Use
- Business Use
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Virtual Cards Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Virtual cards are a type of prepaid card that can be used to make purchases online or in physical stores. They work like traditional debit or credit cards, but they are linked to a user's account at an online merchant or retailer. When a purchase is made, the virtual card is automatically charged and the funds are transferred directly to the user's account.
Some of the key players operating in the virtual cards market are Abine, American Express, Billtrust, Cryptopay, CSI (Corporate Spending Innovations), DiviPay, Emburse, Fraedom, JP Morgan Chase, Marqeta, Mastercard, Mineraltree, Pay with Privacy, Qonto, Skrill, Stripe, Token, Wex, Wirecard.
The virtual cards market is expected to grow at a compound annual growth rate of 16.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Virtual Cards Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Virtual Cards Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Virtual Cards Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Virtual Cards Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Virtual Cards Market Size & Forecast, 2018-2028
4.5.1 Virtual Cards Market Size and Y-o-Y Growth
4.5.2 Virtual Cards Market Absolute $ Opportunity
Chapter 5 Global Virtual Cards Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Virtual Cards Market Size Forecast by Type
5.2.1 B2B Virtual Cards
5.2.2 B2C Remote Payment Virtual Cards
5.2.3 B2C POS Virtual Cards
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Virtual Cards Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Virtual Cards Market Size Forecast by Applications
6.2.1 Consumer Use
6.2.2 Business Use
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Virtual Cards Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Virtual Cards Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Virtual Cards Analysis and Forecast
9.1 Introduction
9.2 North America Virtual Cards Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Virtual Cards Market Size Forecast by Type
9.6.1 B2B Virtual Cards
9.6.2 B2C Remote Payment Virtual Cards
9.6.3 B2C POS Virtual Cards
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Virtual Cards Market Size Forecast by Applications
9.10.1 Consumer Use
9.10.2 Business Use
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Virtual Cards Analysis and Forecast
10.1 Introduction
10.2 Europe Virtual Cards Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Virtual Cards Market Size Forecast by Type
10.6.1 B2B Virtual Cards
10.6.2 B2C Remote Payment Virtual Cards
10.6.3 B2C POS Virtual Cards
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Virtual Cards Market Size Forecast by Applications
10.10.1 Consumer Use
10.10.2 Business Use
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Virtual Cards Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Virtual Cards Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Virtual Cards Market Size Forecast by Type
11.6.1 B2B Virtual Cards
11.6.2 B2C Remote Payment Virtual Cards
11.6.3 B2C POS Virtual Cards
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Virtual Cards Market Size Forecast by Applications
11.10.1 Consumer Use
11.10.2 Business Use
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Virtual Cards Analysis and Forecast
12.1 Introduction
12.2 Latin America Virtual Cards Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Virtual Cards Market Size Forecast by Type
12.6.1 B2B Virtual Cards
12.6.2 B2C Remote Payment Virtual Cards
12.6.3 B2C POS Virtual Cards
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Virtual Cards Market Size Forecast by Applications
12.10.1 Consumer Use
12.10.2 Business Use
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Virtual Cards Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Virtual Cards Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Virtual Cards Market Size Forecast by Type
13.6.1 B2B Virtual Cards
13.6.2 B2C Remote Payment Virtual Cards
13.6.3 B2C POS Virtual Cards
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Virtual Cards Market Size Forecast by Applications
13.10.1 Consumer Use
13.10.2 Business Use
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Virtual Cards Market: Competitive Dashboard
14.2 Global Virtual Cards Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Abine
14.3.2 American Express
14.3.3 Billtrust
14.3.4 Cryptopay
14.3.5 CSI (Corporate Spending Innovations)
14.3.6 DiviPay
14.3.7 Emburse
14.3.8 Fraedom
14.3.9 JP Morgan Chase
14.3.10 Marqeta
14.3.11 Mastercard
14.3.12 Mineraltree
14.3.13 Pay with Privacy
14.3.14 Qonto
14.3.15 Skrill
14.3.16 Stripe
14.3.17 Token
14.3.18 Wex
14.3.19 Wirecard
