Latest News
Virtual Cards Market Projected to Reach $89.93 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 22, 2024 /PRNewswire/ — The report titled “Virtual Cards Market by Card (Credit Card, Debit Card), Product (B2B Virtual Cards, B2C Remote Payment Virtual Cards, C2B POS Virtual Cards), Issuer Type, Application – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $28.54 billion in 2023 to reach $89.93 billion by 2030, at a CAGR of 17.81% over the forecast period.
“Virtual Cards Revolutionize Secure Online Payments Globally“
Virtual cards, the digital equivalents of traditional physical cards, are transforming the way online transactions are conducted with their unique blend of convenience and security. Virtual cards are created and utilized solely online, furnished with all essential details such as a card number, CVV, and an expiration date for immediate use upon issuance. This innovation in digital payment is emerging as a popular choice across the globe, from individual consumers to large corporations, owing to its ability to offer heightened security against fraud, streamline payment processes, and significantly improve financial management and oversight. In the Americas, particularly the USA and Canada, the surge in virtual card adoption is mainly attributed to the demand for safer online transaction methods. Similar growth trends are observed in South America, Europe, the MEA region, and Africa, primarily driven by digital transformation initiatives, regulatory support for secure payments, and the increasing desire for financial inclusion. The Asia-Pacific region exhibits rapid advancements in virtual card usage, powered by widespread smartphone usage, eCommerce growth, and fintech innovations. As the world continues to shift toward digital payment methods, virtual cards represent a significant step forward in ensuring transactional security and convenience on a global scale.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/virtual-cards
“Revolutionizing Secure and Convenient Online Payments Amidst Growing Digital Transactions“
The rapid transition to online shopping, digital services, and the need for secure, streamlined financial transactions have highlighted the significance of virtual cards in today’s digital economy. As eCommerce and online marketplaces expand, making purchases more accessible, the necessity for payment solutions that are both secure and tailored becomes paramount. Virtual cards have emerged as a pivotal solution, offering enhanced security through unique card numbers for each transaction or merchant, effectively minimizing the risk of fraud and unauthorized access. This innovation is particularly vital in an era where cyber threats to personal and financial information are escalating. Moreover, the shift toward remote work and the digital consumption of services have highlighted the importance of having varied and secure online payment options. Virtual cards stand out for their convenience and ease of use, being readily generated, easily managed, and seamlessly integrated with mobile wallets and online payment platforms. Their ability to offer a safer, more efficient payment experience makes them a preferred choice for consumers and businesses, aligning with the demands for more secure and user-friendly payment methods in the digital transformation.
“Enhancing Security and Convenience for Online Consumers“
Virtual cards are revolutionizing the way consumers make online purchases and book travel, connecting directly to their credit line or bank account, depending on the card type. Virtual credit cards, against a pre-set credit limit, offer a layer of security by shielding the actual credit card information during online transactions, thus significantly reducing the risk of fraud. They are an ideal choice for those frequently shopping online, booking travel, or subscribing to services, which provide a safer and more convenient payment method. Virtual debit cards, which draw from the funds available in one’s bank account, appeal to users prioritizing spending within their budget and relishing the benefits of digital payment solutions. These cards are perfect for online purchases, managing subscriptions, and certain bill payments. Virtual credit and debit cards are increasingly valuable to consumers navigating the digital marketplace by facilitating controlled spending and enhancing transaction security.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/virtual-cards
“American Express Company at the Forefront of Virtual Cards Market with a Strong 8.71% Market Share“
The key players in the Virtual Cards Market include Mastercard International Incorporated, Wells Fargo & Company, American Express Company, Visa Inc., Citigroup Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Virtual Cards Market“
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Virtual Cards Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Virtual Cards Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/virtual-cards
“Dive into the Virtual Cards Market Landscape: Explore 182 Pages of Insights, 370 Tables, and 24 Figures“
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Virtual Cards Market, by Card
- Virtual Cards Market, by Product
- Virtual Cards Market, by Issuer Type
- Virtual Cards Market, by Application
- Americas Virtual Cards Market
- Asia-Pacific Virtual Cards Market
- Europe, Middle East & Africa Virtual Cards Market
- Competitive Landscape
- Competitive Portfolio
Inquire Before Buying @ https://www.360iresearch.com/library/intelligence/virtual-cards
Related Reports:
- Card Payments Market – Global Forecast 2024-2030
- Smart Cards Market – Global Forecast 2024-2030
- Contactless Smart Card Market – Global Forecast 2024-2030
About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearch
Mr. Ketan Rohom
360iResearch Private Limited,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India – 411014.
Email: [email protected]
USA: +1-530-264-8485
India: +91-922-607-7550
To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
Logo: https://mma.prnewswire.com/media/2359256/360iResearch_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/virtual-cards-market-projected-to-reach-89-93-billion-by-2030—exclusive-report-by-360iresearch-302123129.html
Latest News
Basel Committee highlights rising risks from finance digitalisation in new report
The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
Latest News
French fintech Lydia launches digital banking app Sumeria
Lydia, a prominent French fintech company known for its innovative financial solutions, has taken a significant leap forward with the launch of its new digital banking app, Sumeria. This development marks a strategic expansion for Lydia as it continues to redefine the financial landscape in Europe and beyond.
About Lydia
Since its inception, Lydia has been at the forefront of fintech innovation in France, providing users with seamless and user-friendly payment solutions. The company has built a strong reputation for its mobile payment app, which allows users to send and receive money, pay for goods and services, and manage their finances with ease. With millions of users and a robust platform, Lydia is well-positioned to venture into the digital banking space.
Introducing Sumeria
Sumeria is Lydia’s latest offering, designed to cater to the growing demand for comprehensive digital banking solutions. The app aims to provide users with a full suite of banking services, all accessible from their smartphones. Key features of Sumeria include:
- Personal and Business Accounts: Sumeria offers both personal and business accounts, enabling users to manage their finances efficiently. The app supports a range of functionalities tailored to meet the needs of individual users and small to medium-sized enterprises (SMEs).
- Intuitive Interface: True to Lydia’s commitment to user experience, Sumeria boasts an intuitive and easy-to-navigate interface. Users can quickly access account information, transaction history, and various banking services with just a few taps.
- Comprehensive Financial Tools: Sumeria provides a range of financial tools designed to help users better manage their money. Features such as budgeting, expense tracking, and personalized financial insights empower users to make informed financial decisions.
- Security and Privacy: Lydia places a high priority on security, and Sumeria is no exception. The app incorporates advanced security measures, including biometric authentication and end-to-end encryption, to ensure that users’ financial data is protected.
- Integrated Payments: Leveraging Lydia’s expertise in payments, Sumeria integrates seamless payment solutions, allowing users to send and receive money instantly, pay bills, and make purchases directly from the app.
Strategic Implications
The launch of Sumeria represents a strategic move for Lydia, positioning the company as a formidable player in the digital banking arena. By expanding its product offering, Lydia aims to capture a larger share of the market and meet the evolving needs of its users. This initiative also reflects a broader trend in the fintech industry, where traditional payment service providers are evolving into comprehensive financial service platforms.
Market Impact
Sumeria’s entry into the market is poised to have a significant impact. With its user-centric design and robust feature set, the app is likely to attract a diverse user base, from tech-savvy millennials to SMEs seeking efficient banking solutions. Moreover, Sumeria’s integration with Lydia’s existing payment infrastructure provides a seamless transition for current Lydia users, further boosting its adoption.
Future Prospects
Looking ahead, Lydia plans to continually enhance Sumeria by adding new features and expanding its services. The company’s focus on innovation and customer satisfaction will be key drivers of Sumeria’s growth. Additionally, Lydia’s potential to scale Sumeria across other European markets presents a substantial opportunity for further expansion.
Source: fintechfutures.com
The post French fintech Lydia launches digital banking app Sumeria appeared first on HIPTHER Alerts.
Latest News
FinTech IPO Index Edges Up 1.7% as Katapult Earnings Lead Platforms Higher
This week was dominated by earnings reports from fintech firms specializing in connecting supply and demand, such as those in lending and modernizing payments between merchants and consumers. Despite ongoing stock volatility, the FinTech IPO Index climbed 1.7%.
FinTech IPO Index Highlights
Katapult saw its stock soar by 18.5% this week. The company reported that Katapult Pay gross originations grew over 150% year-over-year to $55.6 million, with 55.9% of these originations in Q1 2024 coming from repeat customers. Total revenue increased by 18.1% to $65.1 million.
Blend Labs experienced a share increase of just over 15%. Their Q1 2024 earnings revealed total company revenue of $34.9 million, comprising $23.8 million from the Blend Platform segment and $11.1 million from the Title segment. Within the Blend Platform, mortgage suite revenue declined by 15% year-over-year to $15.1 million, while consumer banking suite revenue rose by 29% to $6.7 million. Professional services revenue increased by 21% to $2.1 million.
Paysafe saw a 15.2% rise in its stock. The company’s earnings report indicated an 11% increase in revenue from its Merchant Solutions segment, driven by strong eCommerce performance and SMB client demand. Digital wallet-related revenue increased by 5%, mainly due to growth in the gambling sector. Overall, consolidated revenue rose by 7% to $418 million on a constant currency basis, with total payment volume up 7% to $36.1 billion, and transactions per active user increasing by 14%.
Open Lending shares climbed 7.8% following their partnership with Core Specialty Insurance Holdings, which will now provide credit default insurance policies for Open Lending’s Lenders Protection platform.
Robinhood saw a modest increase of 3.4% over the past week. The company exceeded Q1 profit expectations, driven by strong cryptocurrency trading volumes and a 22% rise in net interest revenue to $254 million. Retail traders, optimistic about economic prospects, have reentered the market, resulting in a 59% increase in transaction-based revenue.
Oportun shares rose by 2.7%. The company’s official Q1 report on May 9 confirmed preliminary results, showing aggregate originations of $338 million, down from $408 million last year. The portfolio yield was 32.5%, an increase of 113 basis points from the previous year, and the annualized net charge-off rate improved to 12% from 12.1% a year ago and 12.3% in the previous quarter.
Declines in the Index
dLocal experienced a significant decline, with shares dropping by 27%. Despite a 49% year-over-year increase in total payment volume to $5.3 billion and a 34% rise in revenue to $184.4 million, gross profit margins were pressured by renegotiated terms with a top merchant and higher payout volumes. Consequently, operating income fell by 32% year-over-year.
Nu Holdings reported the addition of 5.5 million customers in Q1, bringing its global total to 99.3 million by the end of March. The company, now the fourth-largest financial institution in Latin America by customer count, saw monthly average revenue per active customer grow by 30% year-over-year. However, its shares slipped by 0.6%. The NPL ratio for its Brazilian consumer credit portfolio was 5%, consistent with expectations and historical patterns.
Expensify added unlimited virtual cards to its spend management platform. The new Expensify Visa Commercial Card allows businesses to manage expenses across employees and merchants, setting fixed or monthly spending limits for each card. Despite this innovation, the company’s shares fell by 3.4%.
In summary, the fintech sector showcased a range of performances, with several companies delivering strong earnings that boosted the FinTech IPO Index, while others faced challenges that impacted their stock prices.
Source: pymnts.com
The post FinTech IPO Index Edges Up 1.7% as Katapult Earnings Lead Platforms Higher appeared first on HIPTHER Alerts.
-
Latest News7 days ago
Sobha Developers bring to Singapore an Exclusive Dubai Property Showcase
-
Latest News6 days ago
Al Hassan Ghazi Ibrahim Shaker Co. announces a strong start to FY24, reporting a 12.09% YoY increase in net profit to reach SAR 32.25 million in Q1-FY24
-
Latest News5 days ago
Newgen Recognized in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions 2023 Report
-
Latest News5 days ago
Major Korean pension fund invests in carbon solutions with Stafford Capital Partners
-
Latest News5 days ago
Precisely Showcases Critical Role of Trusted Data in AI at the Gartner® Data & Analytics Summit in London
-
Latest News5 days ago
One United Properties posts a consolidated turnover of 84.3 million euros and a gross profit of 37 million euros in the first three months of 2024
-
Latest News5 days ago
XREX Singapore Receives MAS Major Payment Institution Licence
-
Latest News5 days ago
Vantage Markets Celebrates Mother’s Day with NEOM McLaren Extreme E Driver, Cristina Gutiérrez