France Cards and Payments – Opportunities and Risks to 2028

France Cards and Payments Market Report Overview

The annual value of card transactions in the France cards and payments market was $823.5 billion in 2022. The value is expected to grow at a CAGR of more than 6% during 2022-2026. Debit cards accounted for the largest France cards and payments market share in 2022. The French cards and payments industry is well developed. In 2022, the payment card usage frequency in the country was highest compared to other developed payment markets such as Canada, the US, Spain, and Italy. At the core of the payments market is the consumers’ preference for debit cards and Cartes Bancaires (CB), which has been the main driver behind the growth in all non-cash payments.

France Cards Transactions Outlook, 2022-2026 ($ Billion)

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The France cards and payments market research report provides a detailed analysis of market trends influencing the industry. It provides transaction values and volumes for several payment instruments for the review period. In addition, the France cards and payments market analysis offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also entails regulatory policy details and provides extensive coverage of any recent changes in the regulatory structure.

France Cards and Payments Market Dynamics

France has been witnessing several government reforms to promote the usage of different types of monetary transactions. For instance, on July 2, 2020, a group of 16 European banks from five countries – Spain, Belgium, France, Germany, and the Netherlands –announced a European-level instant payment system called European Payments Initiative (EPI). The new solution aimed to create a unified payment solution for consumers and merchants across Europe, encompassing a payment card and a digital wallet and covering in-store, online, and P2P payments as well as cash withdrawals. In addition, interest in biometric cards is growing among French consumers as they provide enhanced security for in-store payments.

The proliferation of digital-only banks is driving competition in the banking space, thus helping boost debit card holding. Revolut is an app-based bank that launched in France in December 2021. To benefit from the growing payment card market, international companies are entering the French merchant acquiring space. In November 2021, Singapore-based payment firm Thunes secured a payment institution license in France to carry out merchant acquisition services. Furthermore, Buy now pay later (BNPL) services are gradually gaining prominence in France. In March 2021, Australia-based BNPL provider Afterpay expanded to France under the Clearpay brand, allowing customers to pay in three installments for both online and in-store purchases. These initiatives are likely to boost the market growth in the long run.

France Cards and Payments Market Segmentation by Payment Instruments

The key payment instruments in the France cards and payments market are cash, cards, direct debits, credit transfer, cheques, and mobile wallets. Cards led the French payments space in terms of transaction volume in 2022. The convenience of electronic payments, robust payment infrastructure, the growing preference for contactless payments, and ecommerce market growth are all facilitating increased payment card usage. The outbreak of COVID-19 encouraged consumers to shift from cash to non-cash payments to avoid close social contact and help prevent the spread of the virus.

France Cards and Payments Market Analysis by Payment Instruments(Volume Terms), 2022 (%)

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France Cards and Payments Market Segments

The key segments in the France cards and payments market are card-based payments, merchant acquiring, ecommerce payments, in-store payments, buy now pay later, mobile payments, P2P payments, bill payments, and alternative payments.

Card-based payments: The French payment card market is mature, with every consumer holding at least one payment card due to strong financial inclusion in the country. This indicates that french consumers are well acquainted with electronic payment methods. This can be attributed to the efforts of the French government and banks to increase banking penetration and offer value-added services and discounts on card payments. This resulted in limited cash dependency. Debit cards dominate the card payment space in France, followed by credit cards, and charge cards, respectively. This debit cards growth is mainly driven by a high banked population and strong financial awareness in French consumers. Debit cards are mostly used for payments rather than cash withdrawals, mainly been boosted since the outbreak of COVID-19, which has encouraged consumers to opt for non-cash payments.

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France Cards and Payments Market - Competitive Landscape

A few of the leading players in the France cards and payments market are:

• Google Pay
• Samsung Pay
• Carrefour Pay
• PayPal
• Amazon Pay
• Lyf

Google Pay: Google Pay was launched in France in December 2018. The solution enables users to make contactless in-store and online payments using Android smartphones. Users need to add a payment method to the app, such as a debit or credit card. To make in-store payments, users unlocks their mobile phones and place it over the NFC terminal, which automatically detects the default card saved in Google Pay. Payments are confirmed by a check symbol appearing onscreen.

France Cards and Payments Market Analysis by Players, 2022 (%)

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Segments Covered in the Report 

France Cards and Payments Instruments Outlook (Value, $ Billion, 2018-2026)

• Cash
• Cards
• Direct Debits
• Credit Transfer
• Cheques
• Mobile Wallets

France Cards and Payments Market Segments Outlook (Value, $ Billion, 2018-2026)

• Card-Based Payments
• Ecommerce Payments
• In-Store Payments
• BNPL
• Mobile Payments
• P2P Payments
• Bill Payments
• Alternative Payments

Scope

• Provides the current and forecast values for each market in France’s cards and payments industry, including debit, credit, and charge cards.
• Provides a detailed insights into payment instruments including cash, cards, direct debits, credit transfer, and cheques. It also includes an overview of the country’s key alternative payment instruments.
• Provides an E-commerce market analysis.
• Provides an Analysis of various market drivers and regulations governing France’s cards and payments industry.
• Provides a detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
• Provides a comprehensive analysis of consumer attitudes and buying preferences for cards.
• Provides the competitive landscape of France’s cards and payments industry.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to France’s cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in France’s cards and payments industry.
• Assess the competitive dynamics in France’s cards and payments industry.
• Gain insights into marketing strategies used for various card types in France.
• Gain insights into key regulations governing France’s cards and payments industry.