This report examines the Virtual Cards market landscape in depth; assessing trends and factors shaping the evolution of this rapidly growing market. The report delivers comprehensive analysis of the strategic opportunities for fintechs offering virtual cards; addressing key verticals such as government, healthcare, fleet, and travel. This report also includes evaluation of key country-level opportunities for stakeholders in the virtual cards market.
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- 1. Market Summary
- 1.1 Key Takeaways
- 1.1.1 B2B Payments and Healthcare Industry are Significant Markets
- 1.1.2 Mid-market Businesses are a Key Focus
- 1.1.3 Virtual Cards Face Strong Competition from Other Payment Methods
- 1.2 Strategic Recommendations
- 1.2.1 Virtual Card Vendors Should Partner with Telecoms Companies to Expand Reach
- 1.2.2 Integrate Carbon Tracking Software
- 1.2.3 Provide an End-to-end Experience for Businesses
- 2. Market Summary
- 2.1.1 Introduction
- 2.1.2 Key Features of Virtual Cards
- Figure 2.1: Key Features of Virtual Cards
- 2.1.3 Key Actors Involved in Virtual Cards
- 2.1.4 Token Service Provisioning: Digital Cards
- 2.1.5 Virtual vs Physical Cards
- Figure 2.2: Virtual vs Physical Card Differences
- 2.2 Key Trends
- 2.2.1 Apple Cash
- Figure 2.3: Apple Cash
- 2.2.2 Tokenisation Blurs the Line Between Virtual and Physical Cards
- 2.2.3 Easy Integration Simplifies Institutional Adoption of Virtual Cards
- 2.2.4 How Will Other Payment Methods Challenge Virtual Cards?
- i. A2A payments
- ii. Cash
- iii. Mobile Money
- 3. Sector Analysis
- 3.1 B2B Sector Analysis
- Figure 3.1: B2B Use Cases for Virtual Cards
- 3.1.1 Travel & Expense
- 3.1.2 Supply Chain
- 3.1.3 Fleet
- 3.1.4 Healthcare
- 3.1.5 Gig Economy
- 3.1.6 Real Estate
- 3.1.7 Travel Agencies
- 3.1.8 Government
- 3.1.9 Payroll
- 3.1.10 Consumer Sector
- i. Energy Bills & Utilities
- ii. eCommerce
- 4. Country Readiness Index
- 4.1 Introduction to Country Readiness Index
- Figure 4.1: Virtual Cards Country Readiness Index: Regional Definitions
- Figure 4.2: Juniper Research Country Readiness Scoring Index: Virtual Cards
- Figure 4.3: Juniper Research Country Readiness Index: Virtual Cards
- Figure 4.4: Virtual Cards Country Readiness Index: Market Segments
- 4.2 Focus Market
- i. Strong B2B Sectors
- Figure 4.5: Total Virtual Card Transactions (m), Split by Seven Key Focus Markets,
- 2025-2029
- ii. The US: Focus Market
- iii. Focus Market: India
- 4.3 Growth Markets
- Figure 4.6: Total Virtual Card Transactions (m), Split by Growth Markets, 2025-
- 2029
- i. Development in Digital & Physical Infrastructure
- 4.4 Saturated Markets
- Figure 4.7: Total Virtual Card Transactions (m), Split by Eight Key Saturated
- Markets, 2025-2029
- i. Entrenched Competition from Instant Payment Services
- ii. Pockets of Growth
- 4.5 Developing Markets
- Figure 4.8: Total Virtual Card Transactions (m), Split by Key Developing Markets,
- 2025-2029
- i. Low Investment in Payments Innovations
- ii. Prevalence of Mobile Money
- Table 4.9: Juniper Research’s Country Readiness Index Heatmap: North America
- Table 4.10: Juniper Research’s Country Readiness Index Heatmap: Latin America
- Table 4.11: Juniper Research’s Country Readiness Index Heatmap: West Europe
- Table 4.12: Juniper Research’s Country Readiness Index Heatmap: Central &
- Eastern Europe
- Table 4.13: Juniper Research’s Country Readiness Index Heatmap: Far East &
- China
- Figure 4.14: Juniper Research’s Country Readiness Index Heatmap: Indian
- Subcontinent
- Figure 4.15: Juniper Research’s Country Readiness Index Heatmap: Rest of Asia
- Pacific
- Table 4.16: Juniper Research’s Country Readiness Index Heatmap: Africa &
- Middle East
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