The Virtual Economy: Measuring Buyer Industry Receptiveness to Using Virtual Cards

Virtual cards are a growing force in business-to-business payments, but adoption remains uneven across buyer industries, due in large part to general uncertainty as to where virtual card solutions are best applied. This report analyzes 147 U.S. industries using a composite scoring system that incorporates supplier acceptance, working-capital constraints, days payable outstanding, and payables complexity. It pinpoints the industries where the virtual card value proposition is most likely to deliver meaningful benefits to buyers. 

It provides actionable insight into the industry-specific traits that predict virtual card receptiveness and how to target buyer segments with the highest likelihood of adoption. The findings support a more strategic approach to virtual card growth, guiding issuers, networks, and other virtual card solution providers toward the sectors where virtual cards can drive efficiency and scale.

Key questions discussed in this report:

• What economic and operational traits make an industry a prime candidate for virtual card usage?
• Which U.S. industries show the strongest receptiveness to making payments with virtual cards?
• What strategies can issuers use to tailor virtual card solutions to specific industries?

Companies Mentioned:

AEG Presents, Booking.com, Conagra, Expedia, General Mills, Intuit, Kellogg, Kraft Heinz, Live Nation, Mastercard, Microsoft, PepsiCo, Salesforce.com, TripAdvisor, Visa