A new study from Juniper Research has revealed that virtual card transaction values are set to grow by 235% by 2029, reaching $17.4trn, up from $5.2trn in 2025.
This marks a significant acceleration compared to the period between 2021 and 2025, during which transaction values increased by 175%. The surge is expected to be driven by the growing subscription economy across both B2B and consumer markets, highlighting the demand for seamless, recurring payment solutions that virtual cards can uniquely facilitate.
Virtual cards simplify subscription management
The report emphasises that the rise in subscription-based services will be a key factor in the adoption of virtual cards, as both businesses and consumers seek efficient ways to manage recurring payments.
Virtual cards offer benefits such as real-time payment tracking, spending limits, and the ability to assign unique virtual cards to specific subscriptions or companies. This functionality will be particularly advantageous for B2B transactions, where companies aim to automate payments while maintaining financial oversight, especially for high-value recurring transactions.
Emerging markets present new opportunities
The research highlights that consumers in emerging markets are increasingly looking for convenient payment methods to access digital subscriptions from international providers. Virtual card providers are well-positioned to tap into this growing demand by collaborating with telecoms companies to offer virtual cards to a broader customer base.
Juniper Research’s Lorien Carter said, “Collaborating with local telecoms companies is crucial for connecting financially excluded consumers to the international digital subscription market. To appeal to this group, virtual card providers should innovate their cross-border capabilities, particularly by improving their multi-currency functionalities.”
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