back Back

Juniper Research: Virtual card transactions to reach $6.8 trillion in 2026

By Joy Dumasia

June 28, 2021

  • America
  • Juniper

Juniper Research has found that the global value of virtual card transactions will reach $6.8 trillion in 2026, from $1.9 trillion in 2021.

Virtual cards, secure digital cards with randomly generated details, will show strong growth as they are increasingly used for B2B payments.

The research identified that businesses would value the simplicity of virtual cards compared to the expensive and slow methods still being used, such as cheque payments, which remain popular in the US.

The research covers essential market segments, including:

  • B2B Virtual Cards
  • Consumer POS Virtual Cards
  • Consumer Remote Payment Virtual Cards

The new research, Virtual Cards: B2B and B2C Applications, Competitive Analysis & Market Forecasts 2021-2026, predicts that outside of the dynamic B2B market, the added security from virtual cards will also appeal to the consumer market. To capitalise on virtual card opportunities, vendors must identify which segment they target and emphasise essential value-added features, such as ERP integrations or consumer brand partnerships.

The research provides a detailed assessment of how new virtual cards will popularise across different verticals and how business models in the space need to evolve. The drivers and constraints affecting the market are discussed, with detailed strategic recommendations on maximising the opportunities within virtual cards for vendors.

The research includes a 17-vendor Juniper Research Leader board with extensive profiles for each vendor and forecasts for virtual card transaction volume, value, and revenue through to 2026.

The report found that B2B payments will continue to account for most virtual card transaction value, amounting to 71% of the total value in 2026. While B2B sales occur less frequently, yielding under 1% of transaction volume in 2026, average transaction values are much higher in the B2B segment. As a result, the vendors must ensure that security features and automation are emphasised to facilitate large payments as efficiently as possible.

Recently IBS Intelligence reported that a Virtual Card or digital card, or cloud card is an online hosted, digital virtual representation of any plastic card or a generic identification method in identity management. Virtual credit and debit cards are modern alternatives for safe and simple spending. These mobile payment solutions allow users to spend money from their phones, thereby reducing the need to use physical cards.


Previous Article

June 28, 2021

Mastercard partners with Instamojo to digitally empower Indian MSMEs

Read More
Next Article

June 28, 2021

MAS to launch Global Challenge for Retail CBDC Solutions

Read More

IBSi Daily News Analysis

Bank fraud

June 06, 2023


Despite better banking oversight, fraud remains a real threat to the future

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


IrisGuard teams up with Elm to boost financial inclusion

Read More


Breef launches Breef(Pay), a BNPL for Agencies

Read More

June 05, 2023

Nets Finland launches Npay, new payment terminal for merchants

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q1 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2023

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2023

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q1 2023

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2022