Virtual Cards: Sector Analysis, Competitor Leaderboard & Market Forecasts 2022-2027

The new Virtual Cards research report presents an independent analysis of the future of the virtual cards market. It provides a comprehensive study of the growth of the virtual cards market, changes within the B2B (Business-to-Business) and B2C (Business-to-Consumer) sectors, and challenges faced by virtual card providers.

The report positions 20 vendors in the Competitor Leaderboard; providing an invaluable resource for stakeholders seeking to understand the competitive landscape in the market.

The research covers:

• Remote B2C Payments
• POS B2C Payments

B2B Payments, including the following sectors:

• Healthcare
• Financial Services
• Fleet

This report also presents comprehensive market forecasts; providing extensive insights and actionable data across the above sectors.

This research suite comprises:

• Strategy & Forecasts (PDF)
• 5-year Market Sizing & Forecast Spreadsheet (Excel)
• 12 Months’ Access to harvest Online Data Platform

Key Market Statistics

Market size in 2022:

$2.4tn

Market size in 2027:

$9.1tn

2022 to 2027 Market Growth:

• 280%

Key Features

• Market Landscape: Provides background on the current position of the market, how the technology itself works, what features are available with virtual cards and how these are used, as well as future prospects of virtual cards, how both vendors and users can monetise virtual cards and potential limitations of the technology.

Sector Analysis: A comprehensive analysis of the challenges and opportunities of virtual card use across the following sectors:

• Accounts Payable & Expenses
• Banking & Finance
• Business to Consumer
• Fleet
• Healthcare
• Marketing
• Public Sector
• Travel

The Competitor Leaderboard: Key players’ capabilities, capacity, and product and positioning assessment for 20 virtual card vendors:

• Abine
• AirPlus
• Apple
• Bank of China
• Barclaycard
• Capital One
• Conferma Pay
• Flutterwave
• JPMorgan Chase
• Lithic
• Marqeta
• Mineraltree
• Nubank
• Open
• Qonto
• Rakuten Card
• Revolut
• SBI
• Stripe
• WEX

Benchmark Industry Forecast: 5-year forecasts for virtual card users, including revenue, volume and value split by sector, remote B2C, POS B2C and B2B. The forecast contains revenue for each sector, with B2B split between healthcare, fleet and finance. Data is also split by our 8 key regions and the 60 countries listed below:

North America:

• Canada, US

Latin America:

• Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay

West Europe:

• Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK

Central & East Europe:

• Croatia, Czech Republic, Hungary, Poland, Romania, Russia, Turkey, Ukraine

Far East & China:

• China, Hong Kong, Japan, South Korea

Indian Subcontinent:

• Bangladesh, India, Nepal, Pakistan

Rest of Asia Pacific:

• Australia, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam

Africa & Middle East:

• Algeria, Egypt, Israel, Kenya, Kuwait, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates

Key Questions Answered

• What will the value of virtual card transactions be in 2027?
• What sector will most readily adopt the use of virtual cards?
• What aspects of virtual cards appeal to different markets?
• Which features of virtual cards are most attractive to different users?
• Which region will see the greatest uptake of virtual cards?

The Virtual Cards forecast suite includes:

Virtual card revenue, transaction value and volume, by sector:

Geographical splits: 60 countries
Number of tables: 89
Number of datapoints: Over 38,000

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform; enabling clients to better understand key data trends and manipulate charts and tables; overlaying different forecasts within the one chart - using the comparison tool. Empowering your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the interactive scenario tool and compare selected markets side by side in custom charts and tables. IFxls greatly increase a client’s ability to both understand a particular market and to integrate their own views into the model.