Virtual Cards Market: Top market players dba Billtrust, Bento Technologies Inc.,

Virtual Cards Market by Product Type (B2B Virtual Card, B2C Remote Payment Virtual Cards, B2C POS Virtual Cards), by Industry Vertical (Media and Entertainment, Hospitality, Consumer Goods, Energy and Utilities, Advertising, Education, Others), by End User (Businesses, Individuals): Global Opportunity Analysis and Industry Forecast, 2021-2031

The global virtual cards market size was valued at $281.22 billion in 2021, and is projected to reach $1,893.08 billion by 2031, growing at a CAGR of 21.3% from 2022 to 2031.

Virtual cards costs lower than physical cards since, a lot of virtual banks tend to have much fewer fees required for customers. Moreover, everything is run online, so the operating costs can be cut down by the virtual bank and in turn, they charge less on the virtual cards to their customers. In addition, virtual cards offer added security benefits to their customers as compared to physical cards. Moreover, customers can set their own spending limits in a virtual card, which allows them to save more. Therefore, these are some of the factors propelling the virtual cards market growth. However, there are chances of fraud if the smartphone is stolen, through which the user's virtual card is used which has access to the virtual card. Moreover, the demand for physical cards is still more than virtual cards. Therefore, these are some of the major factors limiting the growth of the virtual cards market. On the contrary, consumer trends towards touch less payments over physical payments and rapid innovation in the payments technology are expected to provide lucrative virtual cards market growth in the coming years.

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Rapid innovation in payments technology

The COVID-19 pandemic has tremendously affected the social and economic well-being. However, it is one of the biggest drivers of digitalization across the globe. Digital payments, including virtual credit cards have emerged as a fool-proof way for businesses and enterprises to operate in the new normal post COVID-19. In the coming years, the advancement in technology might see acceleration in the adoption of virtual gift cards. This might also result in rapid innovations in the contactless technology that is expected to encourage FinTech startups and enterprises to heavily disrupt the financial sector. In addition, the rapid adoption of contactless payment methods to reduce the usage of cash is expected to provide major lucrative opportunities for the growth of the virtual cards market in the upcoming years.

Key benefits for stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the virtual cards market share from 2021 to 2031 to identify the prevailing virtual cards market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Major countries in each region are mapped according to their revenue contribution to the global virtual cards market forecast.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global virtual cards market trends, key players, market segments, application areas, and market growth strategies.

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Virtual Cards Market Report Highlights

Aspects Details
End User
Businesses
Individuals
Product Type
B2B Virtual Card
B2C Remote Payment Virtual Cards
B2C POS Virtual Cards
Industry Vertical
Media and Entertainment
Hospitality
Consumer Goods
Energy and Utilities
Advertising
Education
Others
By Region
North America (U.S., Canada)
Europe (United Kingdom, Germany, France, Italy, Spain, Netherlands, Rest of Europe)
Asia-Pacific (South Korea, Rest of Asia-Pacific, China, India, Japan, Australia)
LAMEA (Latin America, Middle East, Africa)
Key Market Players Bento Technologies Inc., American Express, Billtrust (BTRS Holdings Inc.), Citigroup Inc., Capital One, DBS Bank Ltd, ePayService, HSBC, JPMorgan Chase & Co., Mastercard, Marqeta, Inc., Revolut Ltd, Stripe, Inc., State Bank of India, Standard Chartered Bank, Wise Payments Limited, WEX Inc.

Related Links:

Digital Gift Cards Market : https://www.alliedmarketresearch.com/digital-gift-cards-market-A09990
Credit Card Payment Market : https://www.alliedmarketresearch.com/credit-card-payments-market-A11836
EMV Smart Cards Market : https://www.alliedmarketresearch.com/emv-smart-cards-market-A14987
Virtual Cards Market : https://www.alliedmarketresearch.com/virtual-cards-market-A17176
Bitcoin Payments Market : https://www.alliedmarketresearch.com/bitcoin-payments-market-A07535
Payment Security Market : https://www.alliedmarketresearch.com/payment-security-market-A10025

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