France Cards and Payments – Opportunities and Risks to 2026
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France Cards and Payments Market Report Overview
The annual value of card transactions in the France cards and payments market was valued at $823.5 billion in 2022 and is expected to grow at a CAGR of more than 6% during 2022-2026. Debit cards accounted for the largest France cards and payments market share in 2022. The French cards and payments industry is well developed. In 2022, the payment card usage frequency in the country was highest compared to other developed payment markets such as Canada, the US, Spain, and Italy. At the core of the payments market is the consumers’ preference for debit cards and Cartes Bancaires (CB), which has been the main driver behind the growth in all non-cash payments.
The France cards and payments market research report provides a detailed analysis of market trends in the France cards and payments industry. The report provides values and volumes for several key performance indicators in the industry, including cash, cards, direct debit, and cheques during the review period. It also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values, and volumes during the review period and over the forecast period. Moreover, it offers information on the country’s competitive landscape, including market shares of issuers and schemes.
France Cards and Payments Market Outlook, 2022-2026 ($ Billion)
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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 Transaction Volume, 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. French consumers are well acquainted with electronic payment methods mainly due to the efforts of the French government and banks to increase banking penetration and offer value-added services and discounts on card payments, thereby limiting consumers’ dependence on cash. 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.
France Card-based Payments Market Analysis by Segments, 2022 (%)
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France Cards and Payments Market - Competitive Landscape
Some of the leading merchant acquiring players in the France cards and payments market are Credit Mutuel – CIC, Credit Agricole, BPCE, BNP Paribas, Societe Generale, and La Bangue Postale among others. Credit Mutuel – CIC is the country’s leading acquirer as it provides an installment service to its merchants, enabling them to offer installment payment facilities to their customers.
France Cards and Payments Market by Merchant Acquiring Companies, 2022 (%)
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France Cards and Payments Market Research Overview
Annual Value of Card Transactions (2022) | $823.5 billion |
CAGR | >6% |
Forecast Period | 2023-2026 |
Historical Period | 2018-2022 |
Key Payment Instruments | Cash, Cards, Direct Debits, Credit Transfer, Cheques, and Mobile Wallets |
Key Segments | Card-Based Payments, Ecommerce Payments, In-Store Payments, BNPL, Mobile Payments, P2P Payments, Bill Payments, and Alternative Payments |
Leading Merchant Acquiring Players | Credit Mutuel – CIC, Credit Agricole, BPCE, BNP Paribas, Societe Generale, and La Bangue Postale |
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
This report provides:
- Current and forecast values for each market in France’s cards and payments industry, including debit, credit, and charge cards.
- 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.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing France’s cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- 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.
Groupe BPCE
Credit Agricole
Societe Generale Group
La Banque Postale
Carrefour Banque
Cartes Bancaires
Visa
Mastercard
American Express
Credit Mutuel - CIC
PayPal
Amazon Pay
Apple Pay
Klarna
Google Pay
Carrefour Pay
Lyf
Lydia
Paylib
Table of Contents
Frequently asked questions
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What was the France cards and payments market size in 2022?
The annual value of card transactions in the France cards and payments market was valued at $823.5 billion in 2022.
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What will be the France cards and payments market growth rate?
The cards and payments market in France is expected to grow at a CAGR of more than 6% during 2022-2026.
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What are the key payment instruments in the France cards and payments market?
The key payment instruments in the France cards and payments market are cash, cards, direct debits, credit transfer, cheques, and mobile wallets.
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What are the key segments in the France cards and payments market?
The key segments in the France cards and payments market are card-based payments, ecommerce payments, in-store payments, BNPL, mobile payments, P2P payments, bill payments, and alternative payments.
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Who are the leading merchant acquiring players in the France cards and payments market?
Some of the leading merchant acquiring players in the France cards and payments market are Credit Mutuel – CIC, Credit Agricole, BPCE, BNP Paribas, Societe Generale, and La Bangue Postale.
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