Authored By: Sarah
22 Jan 2025

Latest News- Virtual Cards Market: B2B virtual cards is expected to lead the Product segment during 2025-2029

The Virtual Cards Market is being driven by Focus on high customer satisfaction

The Virtual Cards Market is expected to grow at a CAGR of 17.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 428.6 billion. NFC (Near Field Communication) technology enables data exchange between compatible devices that are in close proximity, typically within a few centimeters. This functionality is facilitated by NFC chips embedded in the devices. One-way communication occurs when a reader or powered device, such as a credit card reader, phone, or commuter terminal, interacts with an NFC chip to read or write data. Two-way communication, on the other hand, allows for data transfer between two devices, each equipped with an NFC chip, such as two Android devices for exchanging contacts, links, and photos. 

Get more information on Virtual Cards Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

  • Focus on high customer satisfaction
  • High adoption of contactless payment solutions
  • Increased use of m-commerce

However, the market also witnesses some limitations, which are as follows:

  • Regulations on contactless payment transactions
  • Rising threat from substitute transaction systems
  • Privacy and security concerns associated with virtual cards

Benefits of Buying Global Virtual Cards Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Virtual Cards Market Research Report

Market Scope

Report Coverage

Details

Page number

200

Base year

2024

Historic period

2019-2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 17.1%

Market growth 2025-2029

USD 428.6 billion

Market structure

Fragmented

YoY growth 2024-2025(%)

14.6

Key countries

US, China, Germany, Canada, and Japan

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Virtual Cards Market is witnessing significant growth due to the increasing popularity of digital transactions. MasterCard Payment Index reveals that biometrics, QR codes, and tokenization are driving this trend. Virtual cards offer user-friendly experiences, contactless payment solutions, and are compatible with electronic payment systems. However, concerns over fraud, data leakage, and e-commerce fraud persist. Virtual banks and fintech firms are integrating cutting-edge features like ACH payments and smartphone compatibility to enhance user experience. Incorrect labels and low-quality products are potential challenges. Digital currencies and tokenization are also influencing the market.

Market Research Overview

The Virtual Cards market is a segment of the larger IT services industry, specifically focusing on digital transactions and related services. This market encompasses companies providing solutions for MasterCard Payment Index, biometrics, digital currencies, QR code, and tokenization. According to Technavio's market research, the global IT consulting and other services market, which includes this Virtual Cards segment, will experience significant growth due to increasing government investments in advanced IT infrastructure, the growing need for IT expertise in public sector organizations, and the continuous digitization of business processes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!

Safe and Secure SSL Encrypted

Technavio

  • 2500 USD

[5 reports/month/user]

  • 5000 USD

close
  • Basic Plan [5000 USD/Year]:

    Single User
    Download 5 Reports/Month
    View 100 Reports/Month
    Add upto 3 Users at 625 USD/user

  • Teams Plan [7500 USD/Year]:

    5 User
    Download 5 Reports/Month/User
    View 100 Reports/Month/User
    Add upto 30 Users at 500 USD/user

*You can upgrade to Teams plan at Subscription page

close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization).
    Complimentary Customization Included

*For Enterprise license, go to checkout page

Technavio Get the report (PDF) sent to your email within minutes.