What percentage of the global virtual cards market will B2B spending represent by 2029?

According to Third Hemisphere, a financial services PR agency, B2B spending will account for 83% of the global virtual cards market value by 2029. This represents a significant dominance of business-to-business transactions over consumer spending in the virtual cards sector.

How much will global B2B virtual card payments be worth by 2029?

The value of global B2B virtual card payments is projected to reach $14.6 trillion by 2029. This substantial figure demonstrates the enormous growth trajectory and economic significance of virtual cards in the business payment landscape.

Why is Third Hemisphere publishing insights about the virtual cards market?

Third Hemisphere, a PR and communications agency based in Sydney, Australia, publishes insights on the virtual cards market to provide industry-relevant knowledge to their audience and establish thought leadership in the financial services sector. These insights help professionals understand emerging trends and market dynamics.

What are PR industry insights and why do they matter?

PR industry insights are informed perspectives on market trends, business developments, and emerging sectors that help communications and PR professionals stay informed about relevant topics. They matter because they enable agencies and professionals to understand client industries better, anticipate market shifts, and provide more strategic counsel.

Is the virtual cards market primarily B2C or B2B focused?

The virtual cards market is overwhelmingly B2B focused, with business-to-business transactions set to comprise 83% of the market value by 2029. This reflects the growing adoption of virtual cards for corporate expense management, supplier payments, and other business-to-business financial transactions.

What does Third Hemisphere specialise in as a communications agency?

Third Hemisphere is a PR and communications agency based in Sydney, Australia, that specialises in providing strategic communications and public relations services to clients across various industries. The agency demonstrates expertise in financial services communications, as evidenced by their publication of insights on the virtual cards market.

Global virtual cards market to be dominated by B2B spending