Businesses in the global market are shifting their priorities to focus more on agility and security. One payment solution that has emerged, which tailors to both of these, is B2B virtual card payments. In fact, according to new findings by fintech and payments researchers, Juniper Research, the value of B2B virtual card payments will reach $14.6trillion by 2029.
If B2B virtual card payments are able to reach this estimation, they will represent around 83 per cent of the total virtual cards market globally; up from 76 per cent (of a market worth $5.2trillion) in 2025. One of the main reasons given for this adoption is the appeal of multicurrency features – especially given the current ongoing global economic uncertainty.
Real-time, cross-border functionalities enable international businesses to reduce risk amid volatile trade conditions and shifting tariffs. To strengthen market relevance, vendors must tailor value-added services, such as accounting software API integration, to key global trade corridors.
Finding a niche in the B2B payments space
Research author Lorien Carter commented “Virtual card providers should collaborate with fintechs to integrate value-added services, such as carbon tracking calculators, into their tech stack. This is critical for positioning virtual cards as the leading innovative solution in a competitive B2B payments space.”
To further innovate, virtual card providers must harness advanced data analytics to help businesses gain deeper insights into their spending patterns. By leveraging transaction-level data generated with virtual cards, businesses will optimise internal processes and reduce cost.
Virtual cards provide unique digitally generated card numbers that can be integrated with accounting software and assigned to suppliers; increasing visibility and reducing fraud. This is particularly valuable in high-value sectors such as healthcare and travel; often using inefficient legacy systems and experiencing cashflow constraints.
