The new Virtual Cards report provides an in-depth analysis and evaluation of how virtual cards are gaining traction as a digital payment. It includes an extensive segment analysis that assesses how virtual cards are becoming specialised into industry-specific payment solutions, which help businesses effectively manage spending limits with an additional layer of security across 10 sectors. It also delivers critical insights on opportunities across the virtual cards market landscape and future prospects for leading vendors in the space. We reveal an evaluation of the development of virtual cards across 60 different key countries of interest and access their readiness for widespread adoption of virtual cards. The study also contains the Competitor Leaderboard; positioning 20 key virtual card vendors based on their solutions and capabilities. The research delivers incisive analysis of the virtual cards market landscape; analysing the future of virtual cards alongside the regulatory framework across 6 key regions, as well as key challenges faced by the market. Furthermore, the research includes a segment analysis on 10 key industries within which virtual cards have managed to position themselves successfully. These comprise AP (Accounts Payable) & Expenses, Banking & Finance, Travel, B2C, Healthcare, Fleet, Marketing, Government, Education and Energy & Utilities.
Finally, we also feature a comprehensive forecast suite; encompassing the virtual cards market growth across two key segments which are further segmented:
Key Takeaways & Strategic Recommendations: Key opportunities for vendors highlighted across virtual cards market landscape; making for an important read for key stakeholders.
Benchmark Industry Forecasts: 5-year forecasts for the total transaction numbers from virtual cards, spend on virtual cards and revenue from virtual cards. This is split across B2B segments (Financial Services, Healthcare, Fleet, Other Business) and B2C (Remote and POS) virtual cards and their respective segments. The data is also split by our 8 key forecast regions and 60 countries:
North America:
Finally, we also feature a comprehensive forecast suite; encompassing the virtual cards market growth across two key segments which are further segmented:
- B2B Sector
- Finance
- Healthcare
- Fleet
- Other Businesses
- B2C Sector
- B2C Remote
- B2C POS
- Market Trends & Strategies (PDF)
- Competitor Leaderboard (PDF)
- Data & Forecasts (PDF & Excel)
- 12 Months' Access to harvest Online Data Platform
Key Statistics
- 35.8bn - Global volume of virtual card transactions in 2023
- 174.3bn - Global volume of virtual cards transactions in 2028
- 30.19% - 2023 to 2028 market growth
- 2023-2028 - Forecast period
Key Features
Market Dynamics: Insights into key trends and market expansion challenges within the virtual cards landscape, including how virtual cards are becoming tailored to industry‑specific payment methods that help business effectively manage expenses securely across 10 sectors, as well as insight on different regulations across 6 key regions. The study also features the Country Readiness Index, which compares the positioning of 60 key countries across 8 key regions and provides a country‑level analysis of key virtual card growth and revenue opportunities.Key Takeaways & Strategic Recommendations: Key opportunities for vendors highlighted across virtual cards market landscape; making for an important read for key stakeholders.
Benchmark Industry Forecasts: 5-year forecasts for the total transaction numbers from virtual cards, spend on virtual cards and revenue from virtual cards. This is split across B2B segments (Financial Services, Healthcare, Fleet, Other Business) and B2C (Remote and POS) virtual cards and their respective segments. The data is also split by our 8 key forecast regions and 60 countries:
North America:
- Canada, US
- Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay
- Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK
- Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine
- China, Hong Kong, Japan, South Korea
- Bangladesh, India, Nepal, Pakistan
- Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam
- Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates
Competitor Leaderboard: Key player capability and capacity assessment for 20 virtual card vendors, via the Competitor Leaderboard, featuring the following technology companies:
- Apple
- Bank of China
- Barclaycard
- Capital One
- Discover
- Flutterwave
- JPMorgan Chase
- Klarna
- Lithic
- Marqeta
- Monese
- Monzo
- Nubank
- Open
- Qonto
- Rakuten Card
- Revolut
- Starling Bank
- Stripe
- WEX
Research Deliverables
- Market Data & Forecasting Report - The numbers tell you what's happening, but our written report details why, alongside the methodologies.
- Interactive Forecast Excel - Full 5-year forecasts for every available market metric provided in Excel format, with interactive 'What If' and scenario tools.
- harvest Online Data Platform - Access the very latest data in our exclusive online data platform, harvest. All the data from Excel, with frequent updates and a more user-friendly interface.
- Market Trends & Strategies Report - A comprehensive analysis of the current market landscape, alongside strategic recommendations.
- Competitor Leaderboard Report - Provides a visual representation of the competitive positioning of the leaders within the market.
