Global Virtual Cards Market: Introduction

A virtual card is a digital payment system that functions as a token, and is used for electronic payments and mobile orders. Credentials are created automatically by a method called tokenization, and the cards come with built-in financial controls to finance the card for either single-use or multi-purpose transactions.

The lock-down issued by governments of various countries due to the Coronavirus has a detrimental effect on the financial sector. The number of electronic payment transactions or digital payment transfers has decreased from both enterprises and customers as a consequence of the lockdown, which directly impacts the virtual card industry at a global scale.

Global Virtual Cards Market: Dynamics

  • Streamlining of Virtual Card Payment Methods
    • Switching to virtual cards makes online shopping secure and easy, and reduces the possibility of crime. While purchasing online, workers essentially locate the object they would like to purchase and send a request to their manager for approval. The manager then produces a virtual certificate for the amount ordered and gives it to the employee who puts the information on the billing screen at checkout. In such a situation, the organization retains complete access and power over the sales method, whilst the employee has the right and autonomy to perform the transaction as normal.

North America Led the Global Market in 2019

  • Based on region, the global virtual cards market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
  • North America held a dominant share of the global virtual cards market in 2019. It is expected to continue its dominance throughout the forecast period. The U.S. and Canada are the major countries that drive the market in this region. The significant presence of market leaders and trend of early adoption of technology are some of the key factors for the growth of the market.
  • The virtual cards market in Asia Pacific is expected to expand at the highest CAGR during the forecast period. China, India, and Japan are some of the major countries which drive the market in this region. Rising government initatives to encourage digital payments and extensive usage of smartphones are some of the key factors which accelerate the market in  this region.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report

Key Players Operating in the Global Market

Key players operating in the global virtual cards market are listed below:

  • Abine, Inc.
  • American Express Company
  • Billtrust, Inc.
  • Cryptopay
  • CSI (Corporate Spending Innovations)
  • Divipay PTY Ltd.
  • Emburse, LLC
  • Fraedom Holdings Limited
  • JP Morgan Chase
  • Marqeta Inc
  • Mastercard Incorporated
  • MineralTree, Inc.
  • Qonto
  • Skrill
  • Stripe
  • WEX Inc.
  • Wirecard AG

Global Virtual Cards Market: Research Scope

Global Virtual Cards Market, by Product Type

  • B2B Virtual Cards
  • B2C Remote Payment Virtual Cards
  • B2C POS Virtual Cards

Figure: Global Virtual Cards Market, by Product Type

Global Virtual Cards Market, by End-user

  • Consumer Use
  • Business Use

Global Virtual Cards Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Expanding operations in future? To get the perfect launch ask for a custom report

Read Our Latest Press Release:

https://www.prnewswire.com/news-releases/covid-19-vaccine-storage-to-increase-growth-rate-of-pharmaceutical-glass-ampoules-market-between-2019-and-2027-tmr-301222233.html

https://www.prnewswire.com/news-releases/integration-of-smart-features-stirs-growth-in-camera-bag-market-tmr-301221354.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

Contact

Transparency Market Research State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

USA – Canada Toll Free: 866-552-3453

Email: [email protected]

Website: https://www.transparencymarketresearch.com