Virtual Card Transactions Value To Reach Over $5 Trillion By 2025, Says Juniper Research
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A new report from Juniper Research found that the value of transactions processed by virtual cards will more than treble over the next 5 years; increasing from an anticipated $1.6 trillion in 2020. Virtual cards are temporary, random digital card numbers that replace core payment details for specific online transactions. The report found that B2B virtual cards will account for almost 80% of virtual card transactions by value, as that transaction value doubles over the next 5 years.
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