Global Virtual Cards Market Size, Share, Trend, and Forecast 2021 – 2030
The global Virtual Cards market is expected to reach USD 65.0 billion by 2030, at a CAGR of 21% during the forecast period 2021 to 2030.
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By reducing the likelihood of providing the merchant with the actual credit/debit card information, a virtual card facilitates safe online transactions. Virtual cards are limited to the user’s view, making fraud and cloning extremely unlikely. Moreover, there is only one use allowed for each virtual card. Only good for one online purchase at a time, it has a 48-hour expiration date. The credit limit and validity period are subject to variation based on the particular bank. Since no money is spent on producing or obtaining the raw materials, virtual cards are less expensive than physical cards. In addition, a number of banks charge their virtual card holders relatively little.
The Virtual Cards Market is Divided Into Debit Card and Credit Card Segments Based on Card Type. As people’s concerns about preventing corporate fraud grow, the credit card segment will generate the most revenue in the market. Using Virtual Credit Cards (VCCs), a centralised, regulated, and frictionless payment method, has allowed businesses to lower these risks. To provide clients with virtual credit cards, a number of banks have also teamed up with fintech companies. One example is the partnership between the Bank of Baroda and OneCard, a fintech company, to offer a virtual credit card that will arrive in three minutes. The announcement was made in November 2021. This credit card was intended to be made available via the VISA Signature platform.
In addition to forecasting revenue growth and analysing trends in each of the submarkets, this research report classifies the virtual card market based on the following segments and regions. The main growth factors, prospects, and obstacles affecting the virtual card market are examined in this report. Drawing the competitive landscape in the market has involved including recent developments in the market as well as competitive strategies like product development and launch, partnerships, mergers, and acquisitions. In each of the Virtual Cards market’s sub-sectors, the report analyses the core competencies of the major market participants by strategically identifying and profiling them.
List of Key Companies
- American Express Company
- Capital One
- BTRS Holdings, Inc.
- JPMorgan Chase & Co.
- Wise Payments Limited
- JPMorgan Chase & Co.
- Marqeta, Inc.
- MasterCard
- Skrill USA, Inc.
- Stripe, Inc.
- WEX Inc.
- Adyen
- Bento Technologies Inc.
- Billtrust (BTRS Holdings Inc.)
- Citigroup Inc.
- ePayService
- DBS Bank Ltd
- HSBC
- Revolut Ltd
- Stripe, Inc.
- State Bank of India
- Mastercard
- Marqeta, Inc.
- Standard Chartered Bank
- WEX Inc.
- Wise Payments Limited
Market segmentation:
Virtual Cards Market, By Card
- Debit Card
- Credit Card
Virtual Cards Market, By Product Type
- B2B Virtual Cards
- B2C Remote Payment Virtual Cards
- B2C POS Virtual Cards
Competitive analysis:
The competitive analysis section of the Global Virtual Cards Market research report provides a detailed study of the competitive landscape within the market. It aims to identify and assess key market players, their strategies, and their impact on overall market dynamics. Each company’s profile provides insight into its business profile, product portfolio, geographic presence, and recent developments. This information helps stakeholders to gain a comprehensive understanding of market participants and their capabilities.
In addition, competitive analysis examines the market share held by each major player and assesses their position within the market. Assessing relative market strength considers factors such as revenue, market capitalization, and market share growth over time. By understanding the distribution of market shares, industry participants can identify key players and their market power.
Browse key industry insights spread across 199 pages with 127 market data tables and figures & charts from the report “Global Virtual Cards Market Size, Share, and COVID-19 Impact Analysis, By Card Type (Debit Card, Credit Card), By Product Type (B2B Virtual Cards, B2B Virtual Cards, B2C Remote Payment Virtual Cards, C2B POS Virtual Cards), By Application (Consumer Use, Business Use), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030 ”
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The Global Virtual Cards Market Research Report aims to answer the following key questions:
- What are the main products and services offered in the market and how are they evolving to meet changing consumer demands?
- What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
- What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
- What are the price trends in the market, and how do prices change across different product segments and geographies?
- How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
- What are the key cost factors and factors that influence the profitability of companies in the Global Virtual Cards Market?
- How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
- What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
- How do government policies and regulations impact market dynamics and shape industry strategies?
- What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
- What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
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