Virtual Cards Market to Grow by $420.49B, Focus on High Customer Satisfaction to Drive Growth

NEW YORK, November 18, 2022 /PRNewswire/ — The global market for virtual cards is estimated to grow $420.49 billionwhich registers a CAGR of 20.13% between 2021 and 2026. The market has been segmented by product (B2B virtual cards, B2C remote payment virtual cards, and B2C virtual POS cards) and geography (North America, EuropeAPAC, South Americaand the middle East and Africa). Make confident decisions with our insights and analytics. Request a FREE sample report

Technavio has announced its latest market research report titled Global Virtual Cards Market 2022-2026

Technavio has announced its latest market research report titled Global Virtual Cards Market 2022-2026

Virtual Cards Market: Key Growth Drivers

Virtual Card Market growth is expected to be driven by the following factors:

  • Focus on high customer satisfaction

  • High acceptance of contactless payment solutions

  • Increased use of m-commerce

The focus on high customer satisfaction is one of the key factors behind the growth of the global virtual card market. Changing user demand and rising prices for products and services have increased competition between local and foreign players. Vendors are forced to improve their competitive strategies to provide quality customer service and achieve high customer satisfaction. Many e-tailing providers are developing innovative services such as B. Flexibility in placing orders via virtual cards and enabling various payment options using payment gateways. Such initiatives by vendors to provide better customer service to end-users will drive the growth of the global virtual card market over the forecast period. Buy sample report.

The emergence of NFC-based payment technology is the main trend that will drive the growth of the global virtual card market. Due to the increasing demand for contactless payments, the number of NFC-enabled POS terminals has increased significantly. NFC-based contactless payments are popular in countries like the US, UK, China, Canada, Braziland India. The high penetration of NFC-based mobile phones is one of the main factors driving the growth of the global NFC-based POS terminals market. Hence, the increasing demand for cashless payments is expected to drive the growth of the global virtual card market over the forecast period.

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Virtual Card Market: Key Vendor Offerings

The growing competition in the market is forcing vendors to adopt various growth strategies such as technological innovations and partnerships to improve the quality and visibility of their offerings. Some vendors are also employing inorganic growth strategies such as M&As to remain competitive in the market.

  • American Express – The company offers virtual cards such as platinum cards, member reward cards and smarter credit cards.

  • Bento Technologies Inc. – The company offers virtual cards like virtual debit cards.

  • Blackhawk Network Holdings – The company offers virtual cards like Visa gift cards.

  • Caxton – The company offers virtual cards such as currency cards and Caxton Red.

  • Citi Group – The company offers virtual cards like Citi’s virtual cards for payments.

Find additional highlights on vendor growth strategies and their product offerings, Download free sample report.

Virtual Cards Market: Geographical Analysis

35% of market growth will come from North America during the forecast period. The US and Canada are the key markets for the virtual card market North America. The market growth in this region will be slower than the growth of the market in the regions. The focus on high customer satisfaction will facilitate the growth of the virtual card market North America over the forecast period. Get a free sample report.

Reasons to buy the Virtual Cards Market Report:

  • CAGR of market during forecast period 2021-2025

  • Detailed information on factors that will support the growth of the Virtual Cards market in the next five years

  • Estimation of the virtual card market size and its contribution to the parent market

  • Predictions about upcoming trends and changes in consumer behavior

  • The growth of the virtual card market North America, EuropeAPAC, South Americaand middle East and Africa

  • Analysis of the competitive landscape of the market and detailed information about vendors

  • Comprehensive details of factors disrupting the growth of the Virtual Cards market vendors

Related reports:

Credit Card Payments Market by End User and Geography – Forecast and Analysis 2022-2026: Credit card payments market share is projected to grow by $147.16 billion from 2021 to 2026.

Smart Card IC Market by Application, Type and Geography Forecast and Analysis 2022-2026: The market share of smart card ICs is projected to increase by USD 1.17 billion from 2021 to 2026

Scope of the virtual card market

report coverage

details

page number

120

base year

2021

forecast period

2022-2026

Growth Dynamics & CAGR

Accelerate with a CAGR of 20.13%

Market growth 2022-2026

$420.49 billion

market structure

fragmented

YoY Growth (%)

18.62

Regional Analysis

North America, Europe, APAC, South America and Middle East & Africa

make a market contribution

North America at 35%

Important consumer countries

USA, Canada, China, Japan, India and Germany

competitive landscape

Leading companies, competitive strategies, levels of consumer engagement

company profiled

Adyen NV, American Express Co., Bento Technologies Inc., Blackhawk Network Holdings Inc., BTRS Holdings Inc., Caxton FX Ltd., Citigroup Inc., Edenred SE, Greendot Health Foods Pvt. Ltd., HSBC Holdings Plc, JPMorgan Chase and Co., Marqeta Inc., Mastercard Inc., Stripe Inc., Travelex Group Ltd., Visa Inc., Walmart Inc., Western Union Holdings Inc., WEX Inc. and Wise Payments ltd

market dynamics

Root market analysis, market growth drivers and barriers, fast growing and slow growing segment analysis, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

customization area

If our report does not contain the data you are looking for, you can contact our analysts and have segments adjusted.

Table of Contents:

1. Summary

2 market landscape

3 market size

4 Five Forces Analysis

5 Market Segmentation by Product

6 customer landscape

7 Geographical Landscape

8 drivers, challenges and trends

9 provider landscape

10 Vendor Analysis

11 Appendix

about us
Technavio is a leading global technology research and consulting firm. Her research and analysis focuses on trends in emerging markets and provides actionable insights that help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies from 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s extensive reporting, extensive research and actionable market insights to identify opportunities in existing and potential markets and to assess their competitive position in changing market scenarios.

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Global Virtual Cards Market 2022-2026

Global Virtual Cards Market 2022-2026

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