BASINGSTOKE, England, Sept 27 (Bernama-BUSINESS WIRE) — A new study from Juniper Research has found the number of virtual card transactions will exceed 121 billion globally by 2027; increasing from 28 billion in 2022. This represents growth of 340%. It predicts rising integration of virtual cards to existing digital wallets services, such as Apple Pay and Google Pay, will drive this growth by exploiting existing substantial user bases of these digital wallets.
A virtual card is a randomly generated card number linked to a payment account.