<ul><li>Virtual cards are emerging as the next frontier in consumer finance, with 42% of US consumers using them in the last six months primarily for online purchases and subscriptions.</li><li>Digital wallets have paved the way for the rise of virtual cards, which are entirely digital and offer greater security and control with features like one-time numbers for each transaction to limit fraud exposure.</li><li>Virtual cards provide real-time spending controls, immediate issuance post-approval, and seamless integration with merchant apps, positioning them as a competitive tool in the credit market.</li><li>The challenge lies in bridging the gap between digital-first consumers and those seeking traditional rewards, with financial institutions needing to educate users about the security, convenience, and integration benefits of virtual cards.</li></ul>

Banks Bet on Virtual Cards as the New Credit Battleground

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