Market Size of Virtual Cards Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 319.20 Billion |
| Market Size (2029) | USD 562.46 Billion |
| CAGR (2024 - 2029) | > 12.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Virtual Cards Market Analysis
The Virtual Cards Market size is estimated at USD 319.20 billion in 2024, and is expected to reach USD 562.46 billion by 2029, growing at a CAGR of greater than 12% during the forecast period (2024-2029).
Over the upcoming years, there will be a notable increase in the market for virtual cards. Due to reasons like the rising use of digital platforms and online payment methods, the industry will rise rapidly. The growing trend of virtual cards is because they save the trouble and cost of handling real cards and processing paper. The epidemic has increased consumer demand for contactless payment options, and the industry is seeing a rapid influx of new contactless spending options. A virtual prepaid card, apart from phone orders and internet transactions, is a digital payment instrument that functions similarly to an actual prepaid card.
Tokenization is used to create credentials randomly, and the cards have integrated financial controls that let you fund the card for single-use or multiple-use purchases. Virtual prepaid cards enhance the payment experience by making online shopping safer, easier, and more capable.
