CPI report that pre-pandemic forecasts for virtual card market growth are pushing 12% in the middle market segment, where virtual spend is set to outstrip plastic spend by 2024. The drive to contactless and non-physical payments has also been accelerated in the coronavirus crisis. Overall, the mid-market is growing faster than the large corporate sector in B2B commercial card growth. The rise of virtual card spend in the mid-market and the expansion of corporate adoption, gives rise to the proliferation of products, platforms and channels to reach ever deeper into industries and verticals in the segment.
The online sessions are now online. Listen to Reza Satongar shares his own thoughts on the fintech ecosystem as virtual cards evolve, where he explores the customer trends in virtual card use, and how issuers and solution providers may collaborate for a win-win outcome.