Scope of the Study
A virtual credit card is an electronic card that can be created by using the bank's net banking facility by providing credit card details. They can be used only for online transactions to mask the credit card's sensitive data by using the uniquely generated card number. They are connected to the traditional account as a free add on for improved security, transparency and spend visibility. It decreases the chances of credit card fraud as the information on virtual credit cards can not be used by fraudsters.
The market study is being classified by Type (B2B Virtual Credit Card, B2C Remote Payment Virtual Credit Card and B2C POS Virtual Credit Card), by Application (Personal Use and Business Use) and major geographies with country level break-up.
Abine, Inc. (United States), The American Express Company (United States), Apple (United States), Payscout, Inc. (United States), Billtrust, Inc. (United States), DiviPay Pty Ltd. (Australia), CSI Enterprises, Inc. (United States), JPMorgan Chase & Co. (United States), Emburse, LLC (Certify Inc.) (United States), Mastercard Incorporated (United States), Marqeta, Inc. (United States), Cryptopay Ltd (United Kingdom), Skrill (United Kingdom) and Wirecard AG (Germany) are some of the key players profiled in the study.
AdvanceMarketAnalytics has segmented the market of Global Virtual Credit Card market by Type, Application and Region.
On the basis of geography, the market of Virtual Credit Card has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Online Purchases
- Rising Risk of Frauds
- Demand for Transparency and Spend Visibility
- Increasing Commercial Usage of Virtual Credit Card
- Technological Advancement in Virtual Credit Card
- Inaccessibility to Merchant Swipe Machine
- Limited Usage of Virtual Credit Card
- Awareness about the Virtual Credit Card Through Advertisements and Marketing
- The Availability of a Virtual Credit Card to Non-credit Card Holders
- Technical Issues Related Problem Might Hinder the Market
On 9th July 2019, Mastercard joined hands with VersaPay to Introduce Virtual Card Receivables Service to Help Suppliers Effectively and Efficiently Reconcile B2B Payments. Companies around the world are benefiting from digitizing aspects of their business operations, but for many companies, managing incoming payments from customers can be a labor-intensive challenge. Thatís why, today, Mastercard is launching a Virtual Card Receivables Service, a way to digitize the reconciliation of virtual card payments for businesses of all sizes. Through this joint initiative, they aimed to improve the experience of accepting virtual credit cards for businesses across the US, Canada, and around the globe.
Key Target AudienceVirtual Credit Card Providers, Banking Companies, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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