Virtual Cards Market Scope
Virtual Cards are the online cards that are not physically offered by any kind of credit/debit provider. These virtual cards help to safely and securely do a transaction on one's smartphones. With the adoption of many technological advancements, the concept of Digi-money has changed the way of the transaction as well as our dependency on plastic money. For instance, the concept of making smartphones a wallet has also boosted the market across the world. It is seen that the Virtual Debit Card is offered for free when they open an Axis ASAP account, which is a digital savings account. If you shop online, this virtual debit card is perfect for you. With the ongoing trend of digitalization, these virtual cards play an important role in flourishing market dynamics.
The market study is being classified by Type (B2B Virtual Cards, B2C Remote Payment Virtual Cards and B2C POS Virtual Cards), by Application (Consumer Use, Business Use and Other) and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Virtual Cards market throughout the predicted period.
Abine (United States), American Express (United States), Billtrust (United States), Cryptopay (United Kingdom), CSI (Corporate Spending Innovations) (United States), DiviPay (Australia), Emburse (United States), Fraedom (United Kingdom), JP Morgan Chase (United States), Marqeta (United States), Mastercard (United States), Mineraltree (United States) and Pay with Privacy (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Token (United States), Wex (United States), Wirecard (Germany), Stripe (Germany), Qonto (France) and Skrill (United Kingdom).
AdvanceMarketAnalytics has segmented the market of Global Virtual Cards market by Type, Application and Region.
On the basis of geography, the market of Virtual Cards 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).
Market Leaders and their expansionary development strategies
In February, UATP and Conferma Pay announced a partnership to bring virtual card payment technology to airlines and agencies. The solution, powered by Conferma Pay, gives UATP’s customers the option to use virtual payments with all major global distribution systems, more than 100 booking tools, and 500 travel management companies.
Troovo recently launched modular robotics process automation tools that allow TMCs to digest what can be complex corporate policy and configuration rules around virtual card generation and automatically traffic bookings to the appropriate payment solution, including virtual cards.
- The Rising Advancements of these Cards is Also Booming the Market
- High Proliferation of Smartphones
- Worldwide Initiatives for the Promotion of Virtual Cards
- The rising benefits of these cards to prevent a card from being used anywhere but where you specify, cancel or pause a card at any time, set spending limits, make purchases with masked bank account descriptions, create cards in seconds with zero activation required, and auto-expire your cards after a period of time.
- Limited Availability of these Card
- Can't be Operated Anywhere
- Risk of Fraud and Cyber-Attacks Affecting Digital Payment
- Concern Related to Fraud can Still Happen
Key Target AudiencePotential Investors, End-Users, Government & Other Associated Bodies, Banks and Others
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