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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 2024-2030is now available on’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.

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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.

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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.

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Dive into the Virtual Cards Market Landscape: Explore 182 Pages of Insights, 370 Tables, and 24 Figures

  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Virtual Cards Market, by Card
  7. Virtual Cards Market, by Product
  8. Virtual Cards Market, by Issuer Type
  9. Virtual Cards Market, by Application
  10. Americas Virtual Cards Market
  11. Asia-Pacific Virtual Cards Market
  12. Europe, Middle East & Africa Virtual Cards Market
  13. Competitive Landscape
  14. Competitive Portfolio

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Related Reports:

  1. Card Payments Market – Global Forecast 2024-2030
  2. Smart Cards Market – Global Forecast 2024-2030
  3. 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 or follow us on LinkedIn, Twitter, and Facebook.



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Latest News

PB Fintech slips 2% after over 8 million shares change hands via block deal




PB Fintech witnessed a 2% decline in its stock price, reaching Rs 1,313.65 per share, as approximately 8.4 million shares, equivalent to 1.86% of outstanding shares, were exchanged via block deals on the exchanges. By 9:44 AM, the volume surged to 9 million shares collectively on both exchanges, while PB Fintech’s stock price dipped by 0.56% to Rs 1,333 apiece, contrasting with a 0.22% decline in the S&P BSE Sensex.

Executive Share Sales

On May 16, PB Fintech announced that its Chairman and CEO, Yashish Dahiya, alongside Vice Chairman and Whole-time Director, Alok Bansal, intended to sell partial stakes in the company. Dahiya plans to sell up to 5.4 million equity shares, while Bansal aims to divest up to 2.97 million equity shares. Proceeds from the sale will be allocated primarily towards taxes on current and future ESOP exercises.

Following the sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. The company clarified that no further share sales are planned by the duo for at least one year.

Company Profile and Financial Performance

PB Fintech is actively involved in providing integrated online marketing and IT consulting services, primarily for the financial services industry, including insurance. The company operates Policybazaar, India’s largest digital insurance marketplace, and Paisabazaar, which offers lending-related services.

In Q4FY24, PB Fintech reported a net profit of Rs 60.19 crore, marking a significant improvement from the Rs 9.34 crore loss in the corresponding period of the previous year. The company’s revenue from operations surged by 25.4% year-on-year to Rs 1,090 crore in Q4 FY24, compared to Rs 869 crore in Q4 FY23.

For the entire fiscal year, PB Fintech’s net profit stood at Rs 64 crore, contrasting with the Rs 488 crore loss in FY23. The company’s consolidated operating revenue rose by 34% year-on-year to Rs 3,437 crore.

Analyst Perspectives

Analysts at Nuvama Institutional Equities raised their FY25/26 Ebitda estimates significantly to accommodate higher growth and improved profitability. However, they maintained a ‘Reduce’ rating on the stock due to its rich valuation, revising their target price to Rs 1,160.

Keynote Capital downgraded PB Fintech’s stock to ‘Reduce’ from ‘Buy’, citing that most of the positives appear to be priced in. Despite acknowledging the company’s positive momentum and profitability, the brokerage believes that current market expectations may be overly optimistic.

PB Fintech continues to navigate its growth trajectory amidst strategic initiatives and evolving market dynamics, as reflected by varying analyst viewpoints.


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US fintech Yendo secures $165m in mix of debt financing and equity




Yendo, a prominent fintech company based in the United States, has successfully secured $165 million in funding through a combination of debt financing and equity investment.

Funding Structure

The funding round comprised a mix of debt financing and equity infusion, highlighting investors’ confidence in Yendo’s growth prospects and business model. This significant financial injection underscores Yendo’s position as a key player in the fintech sector.

Investment Highlights

Yendo’s ability to attract such substantial investment underscores its appeal to investors. The company’s innovative approach and strategic positioning within the fintech landscape have positioned it for accelerated growth and market expansion.

Utilization of Funds

The newly raised capital will likely be deployed to fuel Yendo’s expansion initiatives, including product development, market expansion, and strategic acquisitions. The infusion of funds will provide Yendo with the financial resources needed to capitalize on emerging opportunities and consolidate its market position.

Market Impact

Yendo’s successful funding round is expected to have a positive impact on the broader fintech market, signaling investor confidence in the sector’s growth potential. The influx of capital into Yendo reflects the ongoing trend of significant investment activity within the fintech industry, driven by increasing demand for innovative financial solutions.


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Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub




Commerce Bank, headquartered in Kansas City, USA, has recently activated the FedNow instant payments service as part of its ongoing modernization efforts.

Collaboration with Temenos

Commerce Bank has partnered with Temenos, a leading Swiss vendor, to enhance its real-time payment capabilities. This collaboration builds upon Commerce Bank’s previous deployment of Temenos’ core banking platform in 2022 and its adoption of the Infinity loan origination solution earlier this year.

Utilization of Temenos Payments Hub

Commerce Bank has opted for the Temenos Payments Hub to integrate the FedNow service seamlessly. According to Temenos, this choice aims to amalgamate advanced banking products with cutting-edge delivery methods.

Insight from David Roller

David Roller, CIO of Commerce Bank, views this selection as a strategic step in their modernization journey. He emphasizes the bank’s commitment to meeting the evolving expectations of its customers by leveraging the capabilities offered by the Temenos platform.

Features of the Platform

The Temenos Payments Hub, delivered via Software-as-a-Service (SaaS), offers a comprehensive suite of payment tools and frameworks. These include features like straight-through processing, automated exception handling, cloud security measures, intelligent routing, and customizable workflows.

Leveraging the US Model Bank

In addition to the Temenos Payments Hub, Commerce Bank has also leveraged Temenos’ US Model Bank. This collection of pre-configured banking processes is tailored to address the specific requirements of the US market, further enhancing Commerce Bank’s operational efficiency and customer service.


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