Top Companies in Virtual Cards Market | Top Industry Major Players Market Report, Overall In-depth Research by Vantage Market Research

A virtual card has a distinct, digitally produced 16-digit card number that is connected to a bank account. Businesses may manage card numbers and balances on any mobile or computer device with virtual cards, regardless of whether they send or receive payments.

Top Companies in Virtual Cards Market | Top Industry Major Players Market Report, Overall In-depth Research by Vantage Market Research
virtual cards market

Market Overview:

The Global Virtual Cards Market was valued at USD 213.5 Billion in the year 2021 and is expected to reach a value of USD 603.2 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 18.9% over the forecast period. A virtual card is a financial technology service that is physically non-existent and is required for online payment. It produces the card number, expiration date, and card verification code (CVV) in an electronic environment and gives them to the client. It is possible to continue the experience more freely and safely by keeping the actual cards away from the threats of the digital environment, thanks to virtual card online shopping. Virtual cards are available in practically all institutions that accept credit cards through digital media (online banking). It is frequently provided for free because there are no printing or delivery charges compared to an actual card. In addition, some banking institutions allow customers to establish an unlimited number of virtual cards. As a result, customers may increase payment security by creating a virtual card for each purchase. 

Virtual cards, on the other hand, are seen as a resource by most financial institutions, which impose specific restrictions and requirements. Furthermore, tokenized data is technically irreversible, unlike encryption, unless the original key used to produce the token is available. If a hacker gains access to the system, the stored number can-not be altered into any value. As a result, virtual cards are far more secure than standard paper checks when preventing B2B payment fraud. Getting a virtual card is not necessary for having a credit card. Some banks allow the creation of virtual cards attached to a drawing account. People increased their acceptance of e-payment during the COVID-19 pandemic for security concerns and to minimize the transmission of infection because contactless payment is simple and transparent.

Get Access to Our Free Sample Report:

Some of the key players operating in the Virtual Cards Market are listed below:

Company Name

Revenue in the US

  • American Express Company

$43 Billion

  • BTRS Holdings, Inc.

$166 Million

  • JPMorgan Chase & Co.

$130 Billion

  • Marqeta, Inc.

$450 Million

  • International Automotive Components Group

$5 Billion

  • MasterCard

$18 Billion

  • Skrill USA, Inc.

$110 Million

  • Vanguard

$8 Billion

  • WEX Inc.

$1 Billion


 1) American Express Company

American Express Company was founded on 18 March 1850 in Buffalo, New York, United States. American Express headquarters are in New York, United States. In American Express Company, a Total of 63,700 employees are currently working. American Express Company's revenue is 4,366 crores USD. American Express Company is a global payment and travel company. The Company's principal products and services are travel-related services offered to consumers and businesses worldwide and charge and credit payment card products.

2) BTRS Holdings, Inc.

BTRS Holdings, Inc. Headquarters is located in Lawrenceville, New Jersey. BTRS Holdings, Inc. was founded in 2001. BTRS Holdings Inc. operates as a holding company. The Company, through its subsidiaries, provides cloud-based software and integrated payment processing solutions that span credit decisions and monitoring, online ordering, invoice delivery, cash application, payments, remittance capture, and collections. BTRS Holdings, Inc. serves clients in the United States.

3) JPMorgan Chase & Co.

JPMorgan Chase & Co. Headquarters is located in New York, New York, United States. JPMorgan Chase & Co. was founded on 31 December 2000 in New York, New York, United States. The total number of employees 26,314. JPMorgan Chase & Co. provides global retail banking and financial services. Also, the Company offers services such as investment banking, treasury, securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.

4) Marqeta, Inc.

Marqeta, Inc.'s headquarters is in Oakland, California, United States. Marqeta, Inc. was founded in the year 2010. Marqeta, Inc. develops and publishes a commerce payments platform. The Company offers an online-to-offline multi-merchant prepaid debit card solution that enables merchants to capture greater customer loyalty. Marqeta markets its products and services worldwide.

5) International Automotive Components Group

International Automotive Components Group is located in Luxembourg. Total 19,000 employees in 18 countries. Revenue is $313.55 million in sales (USD). International Automotive Components (IAC) Group is a leading global supplier of innovative and sustainable instrument panels, consoles, door panels, overhead systems, bumper fascias, and exterior ornamentation for Original Equipment Manufacturers.

6) MasterCard

MasterCard headquarters are in Purchase, Harrison, New York, United States. MasterCard was founded on 3 November 1966 United States. MasterCard Revenue 1,888 crores USD. The company has a total number of employees of around 4,000. MasterCard Incorporated provides financial transaction processing services. The Company offers payment processing services for credit and debit cards, electronic cash, automated teller machines, and traveler’s checks. MasterCard serves customers worldwide.

7) Skrill USA, Inc.

Skrill USA, Inc.'s headquarters is located in LONDON, United Kingdom. Skrill USA, Inc. was founded in the year 2001. The number of employees 21,149. Revenue generates $277.21 million in sales (USD). Skrill Limited provides payment solutions. The Company offers online payments, digital wallet recharge, direct payment processing, currency services, and money transfers. In addition, Skrill delivers customizable payment solutions for clients in the United Kingdom.

8) Vanguard

Vanguard headquarters is located in Valley Forge, Pennsylvania, United States, and was founded on 1 May 1975. The company has around 18,800 employees. The Vanguard Group, Inc. provides advisory services and investment management. The Company offers its services to equity investment and fixed income groups, investment pooled vehicles, mutual funds, and separate account institutional clients. The Vanguard Group serves customers worldwide.

9) WEX Inc.

WEX Inc.'s headquarters is in Portland, Maine, United States, and was founded in 1983. WEX Inc. provides information management services and payment processing to the United States commercial and government vehicle fleet industry. The Company markets services directly to businesses and government agencies with vehicle fleets, automotive manufacturers, and fuel retailers.

Read Latest Blog Top Companies in Solar Energy System Market:

Do You Have Any Query or Specific Requirements? You may enquire to our sales team before purchase.

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: [email protected]