Future of Payment Cards: Are Virtual Cards Taking Over the Physical Cards?
The UAE is projected to reach AED 345.2 billion (US$94.0 billion) in card payments by 2025 at a compound annual growth rate (CAGR) of 7.3%, per GlobalData’s Payment Card Analytics. With more people shifting towards using virtual or digital cards, there is no denying the importance of payment cards in the UAE’s economy.